Company: SOJE
Filing Date: 2025-11-03
Form Type: 424B5
Source: 0000092122-25-000088
Chunk: 58

Company: SOUTHERN CO
Filing Date: 2025-11-03
Form: 424B5
Chunk 58
---
2025   |         |     |             |     |   |
|:--------------------------------|:----|:---------------------|--------:|:----|:------------|:----|:--|
|                                 |     | Actual               |         |     | As Adjusted |     |   |
| Common Stockholders’ Equity (1) |     | $                    |  35,002 |     | $           |     | % |
| Noncontrolling Interest         |     |                      |   3,272 |     |             |     |   |
| Senior Notes (2)                |     |                      |  50,852 |     |             |     |   |
| Other Long-Term Debt (2)        |     |                      |  21,310 |     |             |     |   |
| Total                           |     | $                    | 110,436 |     | $           |     | % |

_________________________

(1) Reflects an adjustment of approximately $ million representing the estimated present value of the contract adjustments payable in connection with the Equity Units.

(2) Including amounts due within one year.

<div align='center'>S-36</div>

### ACCOUNTING TREATMENT
The net proceeds from the sale of the Corporate Units will be allocated between the purchase contracts and each series of RSNs in proportion to their respective fair market values at the time of issuance. The present value of the contract adjustment payments will be initially charged to stockholders ’ equity, with an offsetting credit to liabilities. This liability is accreted over the life of the purchase contract by interest charges to the income statement based on a constant rate calculation. Subsequent contract adjustment payments reduce this liability.

The purchase contracts are forward transactions in the Company’s common stock. Upon settlement of each purchase contract, the Company will receive $50 on the purchase contract and will issue the requisite number of shares of the Company’s common stock. The $50 that the Company receives will be credited to stockholders ’ equity.

Before the issuance of the Company’s common stock upon settlement of the purchase contracts, the purchase contracts will be reflected in the Company’s diluted earnings per share calculations using the treasury stock method. Under this method, the number of shares of the Company’s common stock used in calculating diluted earnings per share (based on the settlement formula applied at the end of the reporting period) is deemed to be increased by the excess, if any, of the number of shares that would be issued upon settlement of the purchase