Company: AX
Filing Date: 2025-09-16
Form Type: 424B5
Source: 0001299709-25-000147
Chunk: 35

Company: Axos Financial, Inc.
Filing Date: 2025-09-16
Form: 424B5
Chunk 35
---
 with respect thereto);

• our obligations associated with derivative products, including obligations in respect of interest rate swap, cap, floor, collar or other agreements, interest rate or currency future or options contracts, interest rate or currency swap agreements, currency future or option contracts and other similar agreements;

• purchase money debt and similar obligations of the Company;

• obligations to general creditors of the Company;

<div align='center'>S-20</div>

• a deferred obligation of, or any such obligation, directly or indirectly guaranteed by us, which obligation is incurred in connection with the acquisition of any business, properties or assets not evidenced by a note or similar instrument given in connection therewith;

• any of the above listed obligations of other persons the payment of which we are responsible or liable for, either directly or indirectly, as obligor, guarantor or otherwise;

• any of the above listed obligations of other persons secured by any lien on any of our property or assets whether or not we assume that obligation; and

• any deferrals, renewals or extensions of any of the above listed obligations.

However, Senior Indebtedness does not include:

• the Notes;

• trade accounts payable arising in the ordinary course of business;

• any indebtedness that by its terms is subordinated to, or ranks on an equal basis with, the Notes, including: (A) to the extent outstanding, our 2030 Notes, (B) our 2032 Notes, or (C) any indebtedness issued to any statutory trust created by us for the purpose of issuing trust securities in connection with such issuance of indebtedness, which shall in all cases be junior to the Notes; and

• any such indebtedness, obligation or liability that is subordinated to our indebtedness to substantially the same extent as, or to a greater extent than, the Notes are subordinated.

We are a financial holding company, and substantially all of our assets are held by our direct and indirect subsidiaries. We rely on dividends and other payments or distributions from our subsidiaries to pay the interest on our debt obligations (such as the Notes offered hereby). Interest expense on our holding company debt obligations for the fiscal year ended June 30, 2025 was $14.8 million. Federal and state bank regulations impose certain restrictions on the ability of our bank subsidiaries to pay dividends directly or indirectly to us, to make any extensions of credit to us or certain of our affiliates and to invest in our stock or securities. These regulations also prevent us from borrowing from our bank subsidiaries unless the