Company: SPH
Filing Date: 2025-02-21
Form Type: 424B5
Source: 0001193125-25-030891
Chunk: 7

Company: SUBURBAN PROPANE PARTNERS LP
Filing Date: 2025-02-21
Form: 424B5
Chunk 7
---
 of actual results. Investors should also refer to our Annual Reports on Form 10-K,our Quarterly Reports on Form 10-Qand our Current Reports on Form 8-Kas we file them with the SEC, and to other materials we may furnish to the public from time to time through Current Reports on Form 8-Kor otherwise, for a discussion of risks and uncertainties that may cause actual results, performance or achievements to differ materially from those expressed or implied by forward-looking statements. We expressly disclaim any responsibility to update any Forward-Looking Statements to reflect changes in underlying assumptions or factors, new information, future events, or otherwise, and you should not rely upon these forward-looking statements after the date of this prospectus. 5

RISK FACTORS

Investing in our common units involves risks. Additionally, limited partner interests are inherently different from the capital stock of a corporation, although many of the business risks to which we are subject are similar to those that would be faced by a corporation engaged in similar businesses. Before making an investment decision, you should carefully consider the risks described below and those discussed under the sections captioned “Risk Factors” contained in our Annual Report on Form 10-Kfor the year ended September 28, 2024, and our Quarterly Reports on Form 10-Q(which are incorporated by reference in this prospectus), together with other information in this prospectus, the information and documents incorporated by reference herein and therein, and in any free writing prospectus that we have authorized for use in connection with this offering. You should also carefully consider the risks incorporated by reference herein by way of any amendment or update to our risk factors reflected in subsequent SEC filings. If any of these risks actually occurs, our business, financial condition, results of operations or cash flow could be seriously harmed. This could cause the trading price of our common units to decline, resulting in a loss of all or part of your investment.

Risks Related to This Offering and Our Common Units

Issuances or sales of our common units may be dilutive or cause the market price of our common units to fall.

The issuance or sale of substantial amounts of our common units, the perception that such issuances or sales of our common units could
occur or the availability for future issuance or sale of our common units could have a dilutive effect on our actual and expected earnings per common unit or could have the effect of depressing the market price of our common units. The
actual amount of dilution or decline in market price cannot be determined