Company: AX
Filing Date: 2025-01-28
Form Type: 424B5
Source: 0001299709-25-000009
Chunk: 30

Company: Axos Financial, Inc.
Filing Date: 2025-01-28
Form: 424B5
Chunk 30
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 statutes apply a similar three-prong test for determining when a company controls a bank or savings association. Specifically, a company has control over either a bank or savings association if the company:

• directly or indirectly or acting in concert with one or more persons, owns, controls, or has the power to vote 25% or more of the voting securities of the bank or savings association;

• controls in any manner the election of a majority of the directors (or any individual who performs similar functions in respect of any company, including a trustee under a trust) of the board of the bank or savings association; or

• directly or indirectly exercises a controlling influence over the management or policies of the bank or savings association.

On January 30, 2020, the Board of Governors of the Federal Reserve System issued a final rule that revised the rules for determining when a company has control over another company under both the BHCA and the HOLA, particularly with respect to the third prong of the above control test.

In addition, Regulation LL, which was issued in 2011 by the Federal Reserve, includes a specific definition for when a person shall be deemed to have “control,” which is similar to the statutory definition, with certain additional provisions. Moreover, Regulation LL implements the regulations governing the determination of when a company or natural person acquires control of a savings association or savings and loan holding company.

Furthermore, the Federal Reserve may not approve any acquisition that would result in a multiple savings and loan holding company controlling savings institutions in more than one state, subject to two exceptions; (i) the approval of emergency interstate acquisitions by savings and loan holding companies and (ii) the acquisition of a savings institution in another state if the laws of the state of the target savings institution specifically permit such acquisition. The states vary in the extent to which they permit interstate savings and loan holding company acquisitions.

### DESCRIPTION OF DEBT SECURITIES
We may issue debt securities under an indenture between us and a U.S. banking institution, as the indenture trustee. Each indenture will be subject to, and governed by, the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act”), and we may supplement the indenture from time to time after we execute them.

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This prospectus summarizes the material provisions of the indenture and the debt securities that we may issue under an indenture. This summary may not describe all of the provisions of the indenture or of any of