Company: HUM
Filing Date: 2025-03-26
Form Type: 424B5
Source: 0001628280-25-014916
Chunk: 33

Company: HUMANA INC
Filing Date: 2025-03-26
Form: 424B5
Chunk 33
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 the meaning of the Internal Revenue Code) has the authority to control all of the trust’s substantial decisions, or (2) the trust has a valid election in effect under applicable Treasury regulations to be treated as a “United States person.”

#### Additional Payments
Under certain circumstances, we may be obligated to pay amounts in excess of the stated principal of the additional 20 notes. Although the matter is not free from doubt, we intend to take the position that the possibility of such payments does not result in the additional 20 notes being treated as contingent payment debt instruments under the applicable Treasury regulations. Our position is not binding on the IRS. If the IRS successfully takes a contrary position, you would be required to treat any gain recognized on the sale or other disposition of the additional 20 notes before the resolution of the contingencies as ordinary income rather than as capital gain, and to accrue interest income on a constant yield basis at an assumed yield determined at the time of issuance of the additional 20 notes, with adjustments to such accruals when any contingent payments are made that differ from the payments calculated based on the assumed yield. You should consult your own tax advisor regarding the potential treatment of the additional 20 notes as contingent payment debt instruments. The remainder of this summary assumes that the additional 20 notes are not treated as contingent payment debt instruments.

#### Qualified Reopening
We intend, for United States federal income tax purposes, to treat the additional 20 notes as issued pursuant to a “qualified reopening” of the existing 20 notes, which had an issue price of %. Accordingly, we intend to treat the additional 20 notes as having the same issue price and issue date as the existing 20 notes. The remainder of this discussion assumes the correctness of the treatment described in this paragraph.

#### Pre-Issuance Accrued Stated Interest
A portion of the offering price of the additional 20 notes will be attributable to the amount of unpaid stated interest on the existing 20 notes that has accrued since , 2024 (the “pre-issuance accrued stated interest”). Pursuant to certain Treasury regulations, we intend to treat a portion of the first payment of stated interest on the additional 20 notes equal to such pre-issuance accrued stated interest as a non-taxable return of the pre-issuance

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accrued stated interest, rather than as a payment of stated interest on such additional 20 notes. The remainder of this