Company: SOJE
Filing Date: 2025-11-04
Form Type: 424B2
Source: 0000092122-25-000092
Chunk: 142

Company: SOUTHERN CO
Filing Date: 2025-11-04
Form: 424B2
Chunk 142
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URITIES, TREASURY PORTFOLIO, PURCHASE CONTRACTS, AND THE COMPANY’S COMMON STOCK.

#### Classification of the RSNs as Indebtedness
Revenue Ruling 2003-97 issued by the IRS addresses certain aspects of instruments similar to the Equity Units. In the Revenue Ruling, the IRS concluded that, for United States federal income tax purposes, an interest in an investment unit that included both a note and a purchase contract would be treated as a separate interest in such note and a separate interest in such purchase contract, under the terms of the investment unit. The IRS also concluded that the notes issued as part of such investment unit were treated as debt for United States federal income tax purposes. However, the terms of the Equity Units, which are complex financial instruments, vary in some respects from the terms of the units addressed by the IRS in the Revenue Ruling, and there is no statutory, judicial, or administrative authority directly addressing the tax treatment of instruments with substantially identical terms as the Equity Units. Thus, no assurance can be given that the conclusions in the Revenue Ruling apply to the Equity Units. The Company has not sought any rulings concerning the United States federal income tax treatment of the Equity Units, and the United States federal income tax consequences described herein are not binding on the IRS or the courts. Nevertheless, while the matter is not free from doubt, under current law and based on the facts contained in this Prospectus Supplement, the terms of the purchase contracts, the purchase contract and pledge agreement, the remarketing agreement, the Senior Note Indenture, and the RSNs, the RSNs should be treated as indebtedness of the Company for United States federal income tax purposes.

The Company agrees, and by acquiring an interest in an Equity Unit, each beneficial owner of an Equity Unit will agree, to treat the RSNs as indebtedness of the Company for United States federal income tax purposes. The remainder of this discussion assumes that the RSNs are classified as indebtedness for United States federal income tax purposes.

#### United States Holders

#### Equity Units

#### Allocation of Purchase Price
Although the matter is not free from doubt, a United States Holder’s acquisition of a Corporate Unit pursuant to this offering will be treated for United States federal income tax purposes as an acquisition of a unit consisting of two components—a separate undivided beneficial ownership interest in each of the RSNs and the purchase contract constituting such Corporate Unit. Unless the context otherwise requires, each reference herein to “RS