Company: PAYX
Filing Date: 2025-04-08
Form Type: 424B2
Source: 0001193125-25-075170
Chunk: 71

Company: PAYCHEX INC
Filing Date: 2025-04-08
Form: 424B2
Chunk 71
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 for debt securities:

| • |     | ownership of beneficial interests in a registered global security will be limited to persons that have accounts                                                     
 with the depositary for the registered global security, those persons being referred to as “participants,” or persons that may hold interests through participants; |

| • |     | upon the issuance of a registered global security, the depositary for the registered global security will credit,                                                                                                                 
 on its book-entry registration and transfer system, the participants’ accounts with the respective principal amounts of the debt securities represented by the registered global security beneficially owned by the participants; |

| • |     | any dealers, underwriters, or agents participating in the distribution of the debt securities will initially 
 designate the accounts to be credited; and                                                                   |

| • |     | ownership of any beneficial interest in the registered global security will be shown on, and the transfer of any                                                                                                                                       
 ownership interest will be effected only through, records maintained by the depositary for the registered global security (with respect to interests of participants) and on the records of participants (with respect to interests of persons holding 
 through participants).                                                                                                                                                                                                                                 |

The laws of some states may require that certain purchasers of securities take physical delivery of the securities in definitive form. These laws may limit the ability of those persons to own, transfer or pledge beneficial interests in registered global securities. So long as the depositary for a registered global security, or its nominee, is the registered owner of the registered global security, the depositary or the nominee, as the case may be, will be considered the sole owner or holder of the debt securities represented by the registered global security for all purposes under the indenture. Except as set forth below, owners of beneficial interests in a registered global security:

| • |     | will not be entitled to have the debt securities represented by a registered global security registered in their 
 names;                                                                                                           |

| • |     | will not receive or be entitled to receive physical delivery of the debt securities in the definitive form; and |

| • |     | will not be considered the owners or holders of the debt securities under the indenture. |

Accordingly, each person owning a beneficial interest in a registered global security must rely on the procedures of the depositary for the registered global security and, if the person is not a participant, on the procedures of a participant through which the person owns its interest, to exercise any rights of a holder under the indenture. We understand that under existing industry practices, if we request any action