Company: GOOGL
Filing Date: 2025-11-05
Form Type: 424B2
Source: 0001193125-25-267232
Chunk: 17

Company: Alphabet Inc.
Filing Date: 2025-11-05
Form: 424B2
Chunk 17
---
 in the form of dividends, distributions, loans or other payments. Our subsidiaries are not prohibited from incurring additional debt or other liabilities, including senior indebtedness, or from issuing equity interests that have
priority over our interests in the subsidiaries. Consequently, the notes will be structurally subordinated to all existing and future liabilities of any of our subsidiaries and any subsidiaries that we may in the future acquire or establish. As of
September 30, 2025, Google and certain other subsidiaries had approximately $2.4 billion in finance lease obligations and no long-term debt outstanding. Additionally, as of September 30, 2025, we have entered into leases primarily
related to data centers that have not yet commenced with future lease payments of $42.6 billion, that are not yet recorded on our consolidated balance sheets, a portion of which will represent finance lease obligations. As of September 30,
2025, the notes would have been structurally subordinated to such existing third-party debt. If our subsidiaries were to incur additional debt or liabilities or to issue equity interests that have priority over our interests in our subsidiaries, our
ability to pay our obligations on the notes could be adversely affected.

In addition, any payment of dividends, loans or advances by our subsidiaries
could be subject to statutory or contractual restrictions. Payments to us by our subsidiaries will also be contingent upon the subsidiaries’ earnings and business considerations. Our right to receive any assets of any of our subsidiaries upon
their bankruptcy, liquidation or reorganization, and therefore the right of the holders of the notes to participate in those assets, will be effectively subordinated to the claims of that subsidiary’s creditors, including trade creditors. In
addition, even if we are a creditor of any of our subsidiaries, our rights as a creditor would be subordinate to any security interest in the assets of our subsidiaries and any indebtedness of our subsidiaries senior to that held by us.

S-9

The terms of the indenture and the notes provide only limited protection against significant corporate events and other actions we may take that could adversely impact your investment in the notes. While the indenture and the notes contain terms intended to provide protection to the holders of the notes upon the occurrence of certain events involving significant corporate transactions, such terms are limited and may not be sufficient to protect your investment in the notes. The indenture for the notes does not:

| • |     | require us to maintain any financial ratios or specific levels of net worth, revenues, income, cash flow or 
 liquidity;