Company: HPP
Filing Date: 2025-06-13
Form Type: 424B5
Source: 0001193125-25-140284
Chunk: 23

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-06-13
Form: 424B5
Chunk 23
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 Accordingly, we generally may not make a
distribution on our common stock or Pre-Funded Warrants if, after giving effect to

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the distribution, we would not be able to pay our debts as they become due in the usual course of business or our total assets would be less than the sum of our total liabilities plus, unless the terms of such class or series provide otherwise, the amount that would be needed to satisfy the preferential rights upon dissolution of the holders of shares of any class or series of preferred stock then outstanding, if any, with preferences upon dissolution senior to those of our common stock or Pre-FundedWarrants. Risks Related to Our Financial Condition Our level of indebtedness and significant debt service obligations, including our recently completed CMBS financing, could adversely affect our financial condition or our ability to fulfill our obligations and make it more difficult for us to fund our operations. As of March 31, 2025, we had approximately $4.2 billion of total unsecured and secured indebtedness outstanding on a consolidated basis, including our $475.0 million secured CMBS financing. Our ability to meet future debt obligations is dependent on having adequate liquidity and continued access to capital markets. Our level of indebtedness could have important negative consequences to you and us, including:

| • |     | we may have difficulty satisfying our obligations with respect to our outstanding notes and debt obligations; |

| • |     | we may have difficulty obtaining financing in the future for working capital, capital expenditures, acquisitions 
 or other purposes;                                                                                               |

| • |     | we will need to use a substantial portion of our available cash flow to pay interest and principal on our debt,                              
 which could reduce the capital available to finance our operations, leasing efforts, development activity, or to fund strategic initiatives; |

| • |     | our debt level increases our vulnerability to general economic downturns and adverse industry conditions; |

| • |     | our debt level could limit our flexibility in planning for, or reacting to, changes in our business and in our 
 industry in general;                                                                                           |

| • |     | certain of our debt obligations, including our recently completed CMBS financing, are secured by our real estate 
 assets, and if we default, lenders may seek to foreclose on the properties securing such debt obligations;       |

| • |     | our leverage could place us at a competitive disadvantage compared to our competitors that have less debt; and |

| • |     | our failure to comply with the financial and