Company: SPH
Filing Date: 2025-02-21
Form Type: 424B5
Source: 0001193125-25-030891
Chunk: 15

Company: SUBURBAN PROPANE PARTNERS LP
Filing Date: 2025-02-21
Form: 424B5
Chunk 15
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 and factual
representations made by us and our general partner and a review of the applicable legal authorities, Proskauer Rose LLP is of the opinion that at least 90% of our current gross income constitutes qualifying income. The portion of our income that is
qualifying income may change from time to time.

No ruling has been or will be sought from the IRS, and the IRS has made no determination
as to our status for U.S. federal income tax purposes. Instead, we will rely on the opinion of Proskauer Rose LLP on such matters. It is the opinion of Proskauer Rose LLP that, based upon the Code, Treasury Regulations, published IRS revenue
rulings, and court decisions and the representations described below, we will be classified as a partnership for U.S. federal income tax purposes.

In rendering its opinion, Proskauer Rose LLP has relied on factual representations made by us and our general partner. Certain of those
representations made by us and our general partner upon which Proskauer Rose LLP has relied are as follows:

(i) we have not at any time
engaged in and will not engage in the business of writing insurance or annuity contracts or the reinsuring of risks underwritten by insurance companies, nor have we conducted or will we conduct any banking activities;

(ii) for each taxable year, at least 90% of our gross income has been and will be income that Proskauer Rose LLP has opined or will opine is
“qualifying income” within the meaning of Section 7704(d) of the Code; and

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(iii) we have not elected and will not elect to be treated as a corporation for U.S. federal
income tax purposes.

We believe that these representations have been true in the past, are true as of the date hereof, and expect that
these representations will continue to be true in the future.

If we fail to meet the Qualifying Income Exception, other than a failure
that is determined by the IRS to be inadvertent and that is cured within a reasonable time after discovery (in which case the IRS may also require us to make adjustments with respect to our unitholders or pay other amounts), we will be treated as if
we had transferred all of our assets, subject to liabilities, to a newly formed corporation on the first day of the year in which we fail to meet the Qualifying Income Exception in return for stock in that corporation, and then distributed that
stock to the unitholders in liquid