Company: SPH
Filing Date: 2025-02-21
Form Type: 424B5
Source: 0001193125-25-030891
Chunk: 42

Company: SUBURBAN PROPANE PARTNERS LP
Filing Date: 2025-02-21
Form: 424B5
Chunk 42
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 distribution
agreement by such Agent acting as our agent with the exact amount to be agreed by the Partnership and the Agents. The estimated offering expenses payable by us, in addition to such commission and reimbursement of expenses, are approximately
$350,000, which includes legal, accounting and printing costs and various other fees associated with registering the common units being offered. The remaining sale proceeds, after deducting any other transaction fees, will equal our net
proceeds from the sale of such common units. We have agreed to reimburse the sales agents for certain fees and expenses of their counsel in connection with the execution of the equity distribution agreement in an amount not to exceed $125,000
and in connection with matters related to the Financial Industry Regulatory Authority. We may in the future agree to reimburse the sales agents for certain expenses associated with ongoing activities pursuant to the equity distribution agreement.

The Agents will provide written confirmation to us following the close of trading on the New York Stock Exchange each day on which common
units are sold under the equity distribution agreement. Each confirmation will include the number of common units sold on that day, the aggregate gross proceeds of such sales and the commission payable by us to the Agents. Settlement for sales
of common units will occur, unless otherwise agreed, one business day following the date on which such sales were made.

In
connection with the sale of our common units on our behalf, the Agents may be deemed to be “underwriters” within the meaning of the Securities Act, and the compensation of the Agents may be deemed to be underwriting commissions or
discounts.

We have agreed to indemnify the Agents against certain liabilities, including liabilities under the Securities Act. We have
also agreed to contribute to payments that the Agents may be required to make in respect of such liabilities.

The offering of common
units pursuant to the equity distribution agreement will terminate upon the earliest of (i) the sale of all common units subject to the equity distribution agreement and this prospectus and (ii) the termination of the equity
distribution agreement according to its terms by either the Agents or us.

27

Other Relationships

Each Agent has provided, and may in the future provide, various investment banking, commercial banking, financial advisory and other services
to us and our affiliates for which services it has received and may in the future receive, customary fees. Affiliates of Wells Fargo Securities, LLC, J.P. Morgan Securities LLC and BofA Securities, Inc. are, as of the date of this prospectus,
lenders under our