Company: LAZ
Filing Date: 2025-07-29
Form Type: 424B5
Source: 0001311370-25-000033
Chunk: 20

Company: Lazard, Inc.
Filing Date: 2025-07-29
Form: 424B5
Chunk 20
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. The guarantees of the notes will be effectively subordinated in right of payment to Lazard, Inc.’s existing and future secured indebtedness, to the extent of the value of the assets securing such indebtedness. The guarantees of the notes will be structurally subordinated in right of payment to all indebtedness and other liabilities and preferred equity of any of Lazard, Inc.’s subsidiaries (other than Lazard Group).

The guarantees of the notes will be automatically released and will terminate upon (i) the merger of Lazard, Inc. with or into Lazard Group or the merger of Lazard Group with or into Lazard, Inc., (ii) the consolidation of Lazard,

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Inc. with Lazard Group, or (iii) the transfer of all or substantially all of the assets of Lazard, Inc. to Lazard Group or of Lazard Group to Lazard, Inc. At the request of Lazard Group, the Trustee will execute and deliver documents, instructions, or instruments evidencing any such release in form and substance reasonably satisfactory to the Trustee.

Lazard, Inc. does not have any significant operations or material assets other than its indirect ownership of all of the common membership interests in Lazard Group and its controlling interest in Lazard Group. Accordingly, if Lazard Group fails to make a payment on the notes when due, there can be no assurance that Lazard, Inc. would have funds to pay that amount pursuant to its guarantee. See “Risk Factors—Lazard, Inc. has no material assets other than its indirect ownership of all of the common membership interests in Lazard Group and its controlling interest in Lazard Group.”

#### Further Issuances
We may, from time to time, without notice to or the consent of the holders of the notes, increase the principal amount of notes under the indenture and issue such increased principal amount (or any portion thereof), in which case any additional notes so issued will have the same form and terms (other than the date of issuance and, under certain circumstances, the date from which interest thereon will begin to accrue), and will carry the same right to receive accrued and unpaid interest, as the notes previously issued, and such additional notes will form a single series with the notes previously issued, including for voting purposes. If any such additional notes are not fungible for United States federal income tax purposes with notes previously issued, such additional notes will not have the same CUSIP number as the notes