Company: LAZ
Filing Date: 2025-07-29
Form Type: 424B5
Source: 0001311370-25-000033
Chunk: 48

Company: Lazard, Inc.
Filing Date: 2025-07-29
Form: 424B5
Chunk 48
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 price and you hold the notes as capital assets (generally, for investment). In particular, this summary does not apply to you if you are a member of a special class of holders subject to special tax rules, including:

• dealers in securities or currencies,

• financial institutions,

• regulated investment companies,

• real estate investment trusts,

• tax-exempt entities,

• insurance companies,

• persons holding the notes as part of a straddle, hedging, constructive sale, conversion, or other integrated transaction for U.S. federal income tax purposes,

• persons purchasing or selling the notes as part of a wash sale for U.S. federal income tax purposes,

• traders in securities that elect to use a mark-to-market method of accounting for their securities holdings,

• U.S. individual or corporate expatriates,

• entities treated as “controlled foreign corporations” or “passive foreign investment companies” for U.S. federal income tax purposes,

• partnerships or other pass-through entities (or investors in partnerships or pass-through entities), or

• U.S. holders (as defined below) that have a “functional currency” other than the U.S. dollar.

This summary is based upon the Code, its legislative history, existing and proposed U.S. Treasury regulations, published rulings, court decisions, and other official guidance, all as in effect on the date hereof. These laws are subject to change or different interpretation, possibly retroactively. This summary does not address the tax consequences to subsequent purchasers of the notes, and it does not discuss the tax consequences arising under the Medicare tax on net investment income, the alternative minimum tax, or any state, local, or foreign tax considerations; nor does it address the applicability of the U.S. federal gift and estate tax.

For purposes of this summary, you are a “U.S. holder” if you are a beneficial owner of the notes and you are, for U.S. federal income tax purposes:

• an individual who is a citizen or resident of the United States,

• a corporation (or other entity treated as a corporation for U.S. federal income tax purposes) that is created or organized under the laws of the United States, any state thereof, or the District of Columbia,

• an estate the income of which is subject to U.S. federal income taxation regardless of its source, or

• a trust that is subject to the primary supervision of a U.S. court and the control of one or more U.S. persons, or that has a valid election in effect under the applicable