Company: HPP
Filing Date: 2025-06-13
Form Type: 424B5
Source: 0001193125-25-140284
Chunk: 33

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-06-13
Form: 424B5
Chunk 33
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. Federal Income Tax Consequences to Holders of Our Capital Stock and Our Operating Partnership’s Debt Securities—Taxation of Taxable U.S. Holders of Our Capital Stock—Distributions
Generally” is hereby replaced with “common stock or Pre-Funded Warrants”.

The following discussion, which relates solely to the Pre-FundedWarrants offered hereby, is included as a new section immediately preceding the heading “Federal Income Tax Considerations—Material U.S. Federal Income Tax Consequences to Holders of Our Capital Stock and Our Operating Partnership’s Debt Securities—Taxation of Taxable U.S. Holders of Our Capital Stock” in the accompanying prospectus.

Pre-FundedWarrants

Although it is not entirely free from doubt, a Pre-Funded Warrant should be treated as a share of our
common stock for U.S. federal income tax purposes, and a holder of a Pre-Funded Warrant should generally be taxed in the same manner as a holder of such common stock, as described below. Accordingly, no gain
or loss should be recognized (other than with respect to any cash paid in lieu of a fractional share) upon the exercise of a Pre-Funded Warrant and, upon exercise, the holding period of a Pre-Funded Warrant should carry over to the common stock received. Similarly, the tax basis of the Pre-Funded Warrant should carry over to the common stock received upon
exercise, increased by the exercise price per share of common stock.

Our characterization is not binding on the IRS, and the IRS may
treat our Pre-Funded Warrants as warrants to acquire our common stock. In that case, the amount and character of your gain or loss with respect to an investment in our
Pre-Funded Warrants could be materially different from the discussion set forth below. Accordingly, each holder should consult such holder’s tax advisor regarding the risks associated with the acquisition
of Pre-Funded Warrants pursuant to this offering (including potential alternative characterizations). The remainder of this discussion assumes that a Pre-Funded Warrant
is treated as a share of our common stock for U.S. federal income tax purposes.

The following discussion, which relates solely to the Pre-FundedWarrants offered hereby, is included as a new section immediately preceding the heading “Federal Income Tax Considerations—Material U.S. Federal Income Tax Consequences to Holders of Our Capital Stock and Our Operating Partnership’s Debt Securities—Taxation of Taxable U.S. Holders of Our Capital Stock—Capital Gain Divid