Company: AX
Filing Date: 2025-09-16
Form Type: 424B5
Source: 0001299709-25-000147
Chunk: 0

Company: Axos Financial, Inc.
Filing Date: 2025-09-16
Form: 424B5
Chunk 0
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#### Filed pursuant to Rule 424(b)(5)

#### Registration No. 333-277514
The information in this preliminary prospectus supplement is not complete and may be changed. This preliminary prospectus supplement and the accompanying prospectus are not an offer to sell these securities, and we are not soliciting an offer to buy these securities, in any state or other jurisdiction where the offer or sale is not permitted.

#### Subject to completion dated September 16, 2025
Preliminary Prospectus Supplement

(To Prospectus dated February 29, 2024)

<div align='center'>$

% Fixed-to Floating Rate Subordinated Notes due 2035</div>

We are offering $ aggregate principal amount of % Fixed-to-Floating Rate Subordinated Notes due 2035, which we refer to as the “Notes.” The Notes will mature on , 2035. From and including the date of original issuance to, but excluding, , 2030 or the date of early redemption, the Notes will bear interest at a rate of % per annum, payable semiannually in arrears on and of each year, commencing on , 2026. From and including , 2030, to, but excluding, , 2035 or the date of early redemption, the Notes will bear interest at a floating rate per annum equal to a benchmark rate (the “Benchmark rate,” which is expected to be Three-Month Term SOFR (as defined in this prospectus supplement)) plus a spread of basis points, payable quarterly in arrears on , , and of each year, commencing on , 2030. Notwithstanding the foregoing, in the event that the Benchmark rate is less than zero, then the Benchmark rate shall be deemed to be zero.

We may, at our option, redeem the Notes (i) in whole or in part beginning with the interest payment date of , 2030, and on any interest payment date thereafter or (ii) in whole but not in part upon the occurrence of a Tax Event, or a Tier 2 Capital Event (each as defined under “ Description of Notes ” in this prospectus supplement) or our becoming required to register as an investment company pursuant to the Investment Company Act of 1940, as amended (the “1940 Act”). The redemption price for any redemption is 100% of the principal amount of the Notes, plus accrued and unpaid interest thereon to, but excluding, the date of redemption. Any early redemption of the Notes will be