Company: HPP
Filing Date: 2025-06-13
Form Type: 424B5
Source: 0001193125-25-140284
Chunk: 15

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-06-13
Form: 424B5
Chunk 15
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 the ownership limits with respect to a particular person, and may establish a different limit on ownership for that person, 
 under certain circumstances. See “Restrictions on Ownership and Transfer” in the accompanying prospectus. Our board of directors intends to approve a 19.9% ownership limit for the investor, solely for “beneficial ownership”                           
 purposes under the Exchange Act, but the investor will otherwise remain subject to the ownership limits described above.                                                                                                                                  |

| Risk Factors | Investing in our securities involves a high degree of risk and the purchasers of our securities may lose all or part of their investment. |

S-6

| (1) | Excludes (i) 40,358,744 shares of our common stock issuable upon the exercise of the underwriters’ option                                                                                                                                       
 to purchase additional shares in full, (ii) any exercise of the Pre-Funded Warrants, (iii) shares of common stock issuable upon exchange of outstanding 6.25% Series A Cumulative Redeemable                                                    
 Convertible Preferred Units of partnership interest in our operating partnership, or Series A Preferred Units, with an aggregate liquidation preference of approximately $5.9 million, which became convertible or redeemable on June 29, 2013, 
 (iv) a maximum of 6,753,814 shares of common stock available for issuance in the future under our equity incentive plan, and (v) 11,302,236 shares subject to vesting conditions or issuable upon the vesting of existing equity awards.        |

| (2) | Includes 4,928,432 common units held by limited partners of our operating partnership, which units may, subject                              
 to certain limitations and adjustments, be redeemed for cash or, at our option, exchanged for shares of common stock on a one-for-one basis. |

S-7

CERTAIN RESULTS OF OPERATIONS, FINANCIAL CONDITION AND OTHER DATA The table below presents certain information regarding our results of operations, financial condition and other data for the periods presented. HPP Share of NOI The table below presents a reconciliation of net loss to HPP’s share of NOI for the twelve months ended December 31, 2024 (in thousands):

|                                                                              |     | Twelve Months     
 Ended             
 December 31, 2024 |          |   |
|:-----------------------------------------------------------------------------|:----|:------------------|---------:|:--|
| Net Loss                                                                     |     | $                 | (381,406 | ) |
| Adjustments                                                                  |