Company: HPP
Filing Date: 2025-06-13
Form Type: 424B5
Source: 0001193125-25-140284
Chunk: 11

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-06-13
Form: 424B5
Chunk 11
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 at HPP’s share.

Management believes that, following this offering, a potential
rebound in office and studio leasing, along with an uplift in studio performance could improve our key leverage metrics in the medium- to long-term. Management’s objective is to obtain a target leverage ratio of approximately 7.5x to 8.5x
(inclusive of the liquidation preference on our 4.750% Series C Cumulative Redeemable Preferred Stock, par value $0.01 per share, or our Series C preferred stock, and Series A preferred units) in a multi-year strategy. Management believes that
certain drivers that may help strengthen these metrics include stabilization of in-service office occupancy, same-store studio occupancy, and occupancy for certain core assets.

Additional General and Administrative Savings

We are accelerating our cost reduction initiatives to seek to optimize overhead, while maintaining operational momentum across our office and
studio portfolios. As part of this process, we are taking steps designed to achieve an additional $9.0 to $10.0 million of annual general and administrative expense savings, updating our full-year 2025 general and administrative expense outlook
to a range of $58.0 to $63.0 million. As part of this undertaking, the Company’s top three named executive officers have elected to forfeit their 2024 performance unit equity awards, resulting in $14.3 million of total general and
administrative savings, approximately $4.9 million of which will be realized in 2025, with the remaining savings occurring over the next three years. The company has also reduced fees for its board of directors by approximately 30%, equivalent
to another $0.5 million of annual savings.

Based on these savings, commencing as of next year, we currently project a full-year
annual general and administrative expense range of $50.0 million to $55.0 million. There can be no assurances that actual results will not ultimately differ from this estimate.

S-3

Apart from ongoing efforts to reduce our general and administrative expenses, we have also worked proactively to expand operating margins, address upcoming debt maturities and enhance liquidity, with recent accomplishments that include:

| • |     | $14.2 million ($13.6 million at HPP’s share) of annual savings in 2024 related to fixed studio                         
 costs through a combination of lease terminations, disposal of obsolete transportation assets, and payroll reductions; |

| • |     | $465.0 million repayment of private placement notes