Company: SOJE
Filing Date: 2025-11-04
Form Type: 424B2
Source: 0000092122-25-000092
Chunk: 38

Company: SOUTHERN CO
Filing Date: 2025-11-04
Form: 424B2
Chunk 38
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 Notes employ a convertible arbitrage strategy with respect to the Existing Convertible Senior Notes and have a short position with respect to the Common Stock that they would close, through purchases of the Common Stock and/or the entry into or unwind of economically equivalent derivatives transactions with respect to the Common Stock, in connection with the Company’s repurchase of their Existing Convertible Senior Notes for cash. This activity could increase (or reduce the size of any decrease in) the market price of the Common Stock or the Equity Units at that time and could result in a higher effective reference price for the stock purchase contract component of the Equity Units. See “Risk Factors—Risks Related to the Equity Units—Repurchases of the Existing Convertible Senior Notes, and related transactions that will happen concurrently with, or shortly after, the pricing of the Equity Units, are likely to affect the value of the Equity Units and the Common Stock.”

#### What are the risks relating to the Equity Units?
See “Risk Factors” and the risk factors set forth in the documents and reports filed with the SEC that are incorporated by reference in this Prospectus Supplement and in the accompanying Prospectus, including the risk factors set forth under “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 before you make an investment decision pursuant to this Prospectus Supplement and the accompanying Prospectus.

<div align='center'>S-19</div>

The Offering—Explanatory Diagrams The following diagrams illustrate some of the key features of the purchase contracts and the undivided beneficial ownership interests in RSNs, Corporate Units and Treasury Units. Corporate Units A Corporate Unit consists of three components as described below:

| Purchase Contract                                                                                                                                  |     | 1/40 Ownership Interest in Series 2025B RSNs(2)                                                                                                                                                                                                                                                                            |     | 1/40 Ownership Interest in Series 2025C RSNs(2)                                                                                                                                                                                                                                                                            |
| (Owed to Holder)                                                                                                                                   
 The Company’s Common Stock at Purchase Contract Settlement Date (December 15, 2028)+Contract Adjustment Payments2.975% per annum paid quarterly(1) |     | -Owed to Holder)                                                                                                                                                                                                                                                                                                           
 Interest4.15% per annum paid quarterly(following a successful remarketing as fixed-rate notes, interest will be payable at a reset rate and will be payable semi-annually or, following a successful remarketing as floating-rate notes, interest will be payable based on a reset spread