Company: SPH
Filing Date: 2025-02-12
Form Type: S-3
Source: 0001193125-25-024546
Chunk: 45

Company: SUBURBAN PROPANE PARTNERS LP
Filing Date: 2025-02-12
Form: S-3
Chunk 45
---
 counsel in connection with the execution of the equity distribution agreement in an amount
not to exceed $ and in connection with matters related to the Financial Industry Regulatory Authority. We may in the future agree to reimburse the sales agents for certain expenses associated with ongoing activities pursuant to
the equity distribution agreement.

The Agents will provide written confirmation to us following the close of trading on the New York
Stock Exchange each day on which common units are sold under the equity distribution agreement. Each confirmation will include the number of common units sold on that day, the aggregate gross proceeds of such sales and the commission payable by
us to the Agents. Settlement for sales of common units will occur, unless otherwise agreed, one business day following the date on which such sales were made.

In connection with the sale of our common units on our behalf, the Agents may be deemed to be “underwriters” within the meaning
of the Securities Act, and the compensation of the Agents may be deemed to be underwriting commissions or discounts.

We have agreed to
indemnify the Agents against certain liabilities, including liabilities under the Securities Act. We have also agreed to contribute to payments that the Agents may be required to make in respect of such liabilities.

The offering of common units pursuant to the equity distribution agreement will terminate upon the earliest of (i) the sale of all
common units subject to the equity distribution agreement and this prospectus and (ii) the termination of the equity distribution agreement according to its terms by either the Agents or us.

27

Other Relationships

Each Agent has provided, and may in the future provide, various investment banking, commercial banking, financial advisory and other services
to us and our affiliates for which services it has received and may in the future receive, customary fees. Affiliates of Wells Fargo Securities, LLC, J.P. Morgan Securities LLC and BofA Securities, Inc. are, as of the date of this prospectus,
lenders under our credit facility, and affiliates of some or all of the Agents may in the future be lenders under any new credit facility or any amendments or restatements of our existing credit facility and the Agents and/or their respective
affiliates may from time to time hold our debt securities or other indebtedness. In the course of its business, the Agents may actively trade our securities for their own account or for the accounts of customers, and, accordingly, the Agents may at
any time hold long or short positions in such securities. Under the terms of the equity distribution agreement, we also may sell our