Company: HBCYF
Filing Date: 2025-11-03
Form Type: 424B5
Source: 0001193125-25-261738
Chunk: 144

Company: HSBC HOLDINGS PLC
Filing Date: 2025-11-03
Form: 424B5
Chunk 144
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| • |     | certain other conditions are satisfied. |

Assumption of Obligations Subject to applicable law and regulation (including, if and to the extent required by, in relation to the senior debt securities, the Loss Absorption Regulations or, in relation to the subordinated debt securities, the Applicable Rules at such time, obtaining any required permission of the Relevant Regulator or the relevant UK resolution authority (as applicable)), with respect to a series of debt securities, a holding company of us or any of our subsidiary undertakings may assume our obligations (or those of any corporation which will have previously assumed our obligations); provided, that:

| • |     | the successor entity expressly assumes such obligations by an amendment to the relevant indenture, in a form                                                                                                                                     
 satisfactory to the trustee, and we will, by an amendment to the relevant indenture, unconditionally guarantee all of such successor entity’s obligations under the debt securities of such series and the relevant indenture, as so modified by 
 such amendment (provided, however, that, for the purposes of our obligation to pay additional amounts as provided, and subject to the limitations as set forth, in the relevant indenture and as described under the section headed “Additional  
 Amounts” above, references to such successor entity’s country of organization will be added to the references to the UK);                                                                                                                        |

| • |     | the successor entity confirms in such amendment to the relevant indenture that the successor entity will pay to                                                                                                                               
 the holders such additional amounts as provided by, and subject to the limitations set forth in, the relevant indenture and as described under the section headed “Additional Amounts” above (provided, however, that for these purposes such 
 successor entity’s country of organization will be substituted for the references to the UK); and                                                                                                                                             |

| • |     | immediately after giving effect to such assumption of obligations, no event of default or default and no event                                                                 
 which, after notice or lapse of time or both, would become an event of default or default with respect to debt securities of such series will have occurred and be continuing. |

Upon any such assumption, the successor entity will succeed to, and be substituted for, and may exercise all of our rights and powers under the relevant indenture with respect to the debt securities of such series with the same effect as if the successor entity had been named under the relevant indenture. 26

For these purposes:

| (a) | “Applicable Rules” means, at any time, the laws