Company: SPH
Filing Date: 2025-02-21
Form Type: 424B5
Source: 0001193125-25-030891
Chunk: 5

Company: SUBURBAN PROPANE PARTNERS LP
Filing Date: 2025-02-21
Form: 424B5
Chunk 5
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, Inc.,

which conducts a portion of our service work and appliance and parts business; and Suburban Renewable

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Energy, LLC (“Suburban Renewable Energy”), which serves as the platform for our investments in innovative renewable energy technologies and businesses. Our fuel oil and refined fuels,
natural gas and electricity, services and renewable energy businesses are structured as either limited liability companies that are treated as corporations or corporate entities (collectively referred to as “Corporate Entities”) and, as
such, are subject to corporate level U.S. income tax.

For more information about our business, please refer to the “Business”
section in our most recent Annual Report on Form 10-K filed with the SEC and incorporated by reference in this prospectus and the “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” sections of our most recent Annual Report on Form 10-K and all subsequent Quarterly Reports on
Form 10-Q filed with the SEC and incorporated by reference in this prospectus.

Corporate Information

Our common units, representing limited partner interests in the Partnership, are traded on the New York Stock Exchange under the
symbol “SPH.” We were formed as a Delaware limited partnership in 1995. Our executive offices are located at 240 Route 10 West, Whippany, New Jersey 07981, and our telephone number is
(973) 887-5300.

Unless the context otherwise requires, the terms “Partnership,”
“Suburban,” “we,” “us,” and “our” are used to refer to Suburban Propane Partners, L.P. and its consolidated subsidiaries, including the Operating Partnership. The term “you” refers to a prospective
investor.

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THE OFFERING

| Common units offered by us | Common units having an aggregate offering amount of up to $100.0 million. |

| Manner of offering | “At-the-market” offering that may be made from time to time through the Agents. See “Plan of Distribution.” |

| Use of proceeds | We intend to use the net proceeds from future sales of our common units in this offering for general limited partnership purposes. See “Use of Proceeds.” |

| Material U.S. federal income tax Consequences | For a discussion of material U.S. federal income tax considerations that may be relevant to potential holders of our common units, please read “Material U.S. Federal Income Tax Consequences.” |

| Risk factors | Investing in our common units involves a high degree of risk. See the information contained