Company: HBCYF
Filing Date: 2025-06-02
Form Type: 424B5
Source: 0001193125-25-132352
Chunk: 137

Company: HSBC HOLDINGS PLC
Filing Date: 2025-06-02
Form: 424B5
Chunk 137
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| (2) | if our Ordinary Shares to be issued do rank for the dividend (or entitlement) in question, the Volume Weighted                                                            
 Average Price on the dates on which our Ordinary Shares will have been quoted ex-dividend (or ex-any other entitlement) will for the purpose of this definition be deemed 
 to have been the amount thereof increased by such similar amount; and                                                                                                     |

| (ii) | if on each of the five Exchange Business Days during the Relevant Period our Ordinary Shares have been quoted cum-dividend (or cum-any other entitlement) in respect of a dividend (or entitlement) which has been declared or announced but our Ordinary Shares to be issued do not rank for 
 that dividend (or entitlement), the Volume Weighted Average Price on each of such dates will for the purposes of this definition be deemed to be the amount thereof reduced by an amount equal to the Fair Market Value of that dividend (or entitlement)                                     
 per Ordinary Share as of the date of first public announcement relating to such dividend or entitlement, and for these purposes, the amount or value will be determined on a gross basis disregarding any withholding or deduction required to be made on                                     
 account of tax and disregarding any associated tax credit;                                                                                                                                                                                                                                    |

| (iii) | if such Volume Weighted Average Price of one of our Ordinary Shares is not available on each of the five                                                                                                                             
 Exchange Business Days during the Relevant Period, then the arithmetic average of such Volume Weighted Average Prices which are available in the Relevant Period will be used (subject to a minimum of two such closing prices); and |

| (iv) | if only one or no such Volume Weighted Average Price is available in the Relevant Period, then the Current 
 Market Price will be determined by an Independent Financial Adviser.                                       |

“default” has the meaning given to such term under “— Defaults and Remedies—Events of Default and Defaults.” “Depository Business Day” means a day on which the Conversion Shares Depository is open for general business. “Distributable Items” means the amount of our profits at the end of the last financial year plus any profits brought forward and reserves available for that purpose before distributions to holders of the Securities and any Parity Obligations and Junior Obligations less any losses brought forward, profits which are non-distributablepursuant to the Companies Act or other provisions of English law from time to time applicable to us or our Memorandum and Articles of Association (our “Articles of Association”) and