# EDGAR Filing Document

**Accession Number:** 0000012659
**File Stem:** 0001104659-25-083093
**Filing Date:** 2025-8
**Character Count:** 108800
**Document Hash:** 9e68ae53d45a2e1becc0abc1e28eeaea
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-083093.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0001104659-25-083093

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 16

**CONFORMED PERIOD OF REPORT**: 20250826

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** H&R BLOCK INC
- **CENTRAL INDEX KEY:** 0000012659
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PERSONAL SERVICES [7200]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 440607856
- **STATE OF INCORPORATION:** MO
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-06089
- **FILM NUMBER:** 251257867

**BUSINESS ADDRESS:**
- **STREET 1:** ONE H&R BLOCK WAY
- **CITY:** KANSAS CITY
- **STATE:** MO
- **ZIP:** 64105
- **BUSINESS PHONE:** 8168543000

**MAIL ADDRESS:**
- **STREET 1:** ONE H&R BLOCK WAY
- **CITY:** KANSAS CITY
- **STATE:** MO
- **ZIP:** 64105

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (date of earliest event reported): August 26, 2025

**H&R BLOCK, INC.**

(Exact name of registrant as specified in charter)

---

| | | |
|:---|:---|:---|
| **Missouri** | **001-06089** | **44-0607856** |
| (State or other jurisdiction of | (Commission File Number) | (I.R.S. Employer |
| incorporation or organization) |  | Identification No.) |

---

**One H&R Block Way, Kansas City, Missouri 64105**

(Address of Principal Executive Offices) (Zip Code)

**(816) 854-3000**

(Registrant's telephone number, including area code)

**Not Applicable**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

◻ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

◻ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

◻ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| &nbsp;&nbsp;Common Stock, without par value | HRB | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ◻

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

---

| | |
|:---|:---|
| **Item 1.01.** | **Entry into a Material Definitive Agreement.** |

---

On August 26, 2025, Block Financial LLC ("Block Financial") issued and sold $350.0 million principal amount of its 5.375% Notes due 2032 (the "Notes"), which are fully and unconditionally guaranteed by H&R Block, Inc. (the "Company") pursuant to guarantees (the "Guarantees") endorsed on the Notes. The closing of the sale of the Notes occurred on August 26, 2025. The offering of the Notes was registered under the Securities Act of 1933 (the "Securities Act"), as amended, pursuant to a shelf registration statement (the "Registration Statement") on Form S-3ASR (File No. 333-281584), as supplemented by the prospectus supplement dated August 19, 2025, previously filed with the Securities Exchange Commission under the Securities Act.

The Notes were issued pursuant to the Indenture, dated as of October 20, 1997 (the "Base Indenture"), among the Company, Block Financial (formerly known as Block Financial Corporation) and Deutsche Bank Trust Company Americas (f/k/a Bankers Trust Company, "DBT"), as supplemented by that certain Fifth Supplemental Indenture, dated August 26, 2025 among the Company, Block Financial, DBT and U.S. Bank Trust Company, National Association (the "Fifth Supplemental Indenture"), designating U.S. Bank Trust Company, National Association as separate trustee for the Notes and as successor trustee to DBT, and that certain Officers' Certificate, dated August 26, 2025 (the "Officers' Certificate" and, together with the Base Indenture and the Fifth Supplemental Indenture, the "Indenture"), establishing the terms of the Notes.

The Notes bear interest at 5.375% per annum and will mature on September 15, 2032. Interest on the Notes is payable on March 15 and September 15 of each year, beginning March 15, 2026. At any time and from time to time prior to July 15, 2032 (which is the date that is two months prior to the maturity date), Block Financial may redeem the Notes, in whole or in part, at the applicable "make-whole" redemption price set forth in the Indenture. At any time and from time to time on or after July 15, 2032, Block Financial may redeem some or all of the Notes at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest thereon, as described in the Indenture.

The Indenture contains certain restrictions, including a limitation on the Company's ability and the ability of its subsidiaries to incur liens and to consolidate, merge or transfer all or substantially all of their assets, and requires Block Financial to offer to repurchase the Notes upon certain change of control triggering events set forth in the Indenture. These covenants are subject to important limitations and exceptions, as described in the Indenture. The Indenture also contains customary events of default.

The foregoing descriptions of the Indenture and the Notes are qualified in their entirety by reference to the Base Indenture, which is filed as Exhibit 4(a) to the Company's Quarterly Report on Form 10-Q for the quarter ended October 31, 1997, the Fifth Supplemental Indenture, which is filed as <u>Exhibit 4.1</u> hereto, and the Officers' Certificate (including the form of the Notes attached thereto), which is filed as <u>Exhibit 4.2</u> hereto, each of which is incorporated by reference herein.

The following documents are being filed with this Current Report on Form 8-K and are incorporated by reference into the Registration Statement: (i) the Fifth Supplemental Indenture, filed as <u>Exhibit 4.1</u> hereto; (ii) the Officers' Certificate, filed as <u>Exhibit 4.2</u> hereto (including the form of Notes, including the notation of Guarantees); and (iii) the opinion of counsel addressing the validity of the Notes and the Guarantees, filed as <u>Exhibit 5.1</u> hereto.

---

| | |
|:---|:---|
| **Item 2.03** | **Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.** |

---

The information contained in Item 1.01 of this Current Report is incorporated by reference herein.

---

| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.** |

---

**(d) Exhibits**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| [4.1](tm2522221d5_ex4-1.htm) | [Fifth Supplemental Indenture, dated August 26, 2025, among H&R Block, Inc., Block Financial LLC (formerly known as Block Financial Corporation), Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company) and U.S. Bank Trust Company, National Association, as separate and successor trustee.](tm2522221d5_ex4-1.htm) |
| [4.2](tm2522221d5_ex4-2.htm) | [Officers' Certificate, dated August 26, 2025, of Block Financial LLC (including the Form of the 5.375% Notes due 2032).](tm2522221d5_ex4-2.htm) |
| [5.1](tm2522221d5_ex5-1.htm) | [Opinion of Stinson LLP.](tm2522221d5_ex5-1.htm) |
| [23.1](tm2522221d5_ex5-1.htm) | [Consent of Stinson LLP (included in Exhibit 5.1).](tm2522221d5_ex5-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
|  |  | **H&R BLOCK, INC.** | **H&R BLOCK, INC.** |
| Date: | August 26, 2025 | By: | /s/ Katharine M. Haynes |
|  |  |  | Katharine M. Haynes |
|  |  |  | Vice President and Corporate Secretary |

---

## Exhibit 4.1

**Exhibit 4.1**

**FIFTH SUPPLEMENTAL INDENTURE**

THIS FIFTH SUPPLEMENTAL INDENTURE, dated as of August 26, 2025, is among BLOCK FINANCIAL LLC (formerly known as Block Financial Corporation), a Delaware limited liability company (the "**Company**"), H&R BLOCK, INC., a Missouri corporation ("**Block**"), DEUTSCHE BANK TRUST COMPANY AMERICAS (formerly known as Bankers Trust Company), as trustee under the Indenture referred to below ("**First Trustee**"), and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as separate trustee under such Indenture in respect of the 5.375% Senior Notes Due 2032 (the "**Notes**") to be issued by the Company under the Indenture as referred to below and as successor trustee to the First Trustee for all purposes under the Indenture from and after the date hereof ("**U.S. Bank**") (either First Trustee or U.S. Bank, as applicable, being herein called the "**Trustee**").

PRELIMINARY STATEMENT

WHEREAS, the Company and First Trustee have entered into an Indenture, dated as of October 20, 1997 (the "**Indenture**"), by and among the Company, Block and First Trustee, with respect to Debt Securities to be issued by the Company from time to time in one or more series. First Trustee acted as trustee in respect of all series of Debt Securities which were issued prior to the date of the Second Supplemental Indenture (as defined below), none of which remains outstanding. Capitalized terms used herein, not otherwise defined herein, shall have the meanings given them in the Indenture.

WHEREAS, the Company and Trustee have entered into a Second Supplemental Indenture, dated as of September 30, 2015 (the "**Second Supplemental Indenture**"), by and among the Company, Block, First Trustee and U.S. Bank, with respect to Debt Securities to be issued by the Company from time to time in one or more series. U.S. Bank has acted and will continue to act as trustee in respect of all series of Debt Securities which have been issued after the date of the Second Supplemental Indenture and prior to the date of this Fifth Supplemental Indenture and remain outstanding.

WHEREAS, Section 9.01(j) of the Indenture provides that, under certain circumstances, a supplemental indenture may be entered into by the Company, Block and First Trustee without the written consent of the Holders in order to appoint a successor or separate trustee with respect to one or more series of Debt Securities.

WHEREAS, the Notes will be issued pursuant to the Indenture, as supplemented by this Fifth Supplemental Indenture and an officers' certificate of the Company establishing the terms of the Notes.

WHEREAS, the First Trustee desires to resign as Trustee under the Indenture.

WHEREAS, in accordance with the terms of Section 9.01(j) of the Indenture, each of the Company, by a written consent of its Manager, and Block, by a resolution of a duly appointed committee of its Board of Directors, has duly authorized this Fifth Supplemental Indenture, and U.S. Bank has agreed to act as separate trustee with respect to the Notes and as successor trustee for all purposes under the Indenture.

WHEREAS, each of the parties has determined that this Fifth Supplemental Indenture is in form satisfactory to each of them.

WHEREAS, all things necessary to make this Fifth Supplemental Indenture a valid agreement of the Company, Block, First Trustee and U.S. Bank and a valid amendment of and supplement to the Indenture have been done.

WHEREAS, all amounts due and owing to the First Trustee have been paid in full.

NOW, THEREFORE,

For and in consideration of the premises provided in the Indenture, it is mutually covenanted and agreed, for the equal and proportionate benefit of all Holders of the Notes issued under the Indenture with effect from and after the date of this Fifth Supplemental Indenture, as follows:

Section 1. Appointment.

Each of Block and the Company hereby appoints U.S. Bank, and U.S. Bank hereby accepts such appointment, as the Trustee under the Indenture for the Notes and as successor trustee to the First Trustee for all purposes under the Indenture. Each of Block, the Company and the First Trustee acknowledges that this Fifth Supplement Indenture shall constitute written acceptance by U.S. Bank of its appointment for purposes of Section 7.08 of the Indenture.

Section 2. Resignation of the First Trustee.

Pursuant to Section 7.08 of the Indenture, the First Trustee hereby resigns as Trustee under the Indenture, as amended or supplemented.

Section 3. Effectiveness; Termination

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This Fifth Supplemental Indenture is entered into pursuant to and consistent with Section 9.01 of the Indenture, and nothing herein shall constitute an amendment, supplement or waiver requiring the approval of any of the Holders pursuant to Section 9.02.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) This Fifth Supplemental Indenture shall become effective and binding on the Company, Block, First Trustee and U.S. Bank and the Holders of the Debt Securities upon the execution and delivery by the parties to this Fifth Supplemental Indenture.

Section 4. Reference to and Effect on the Indenture.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) On and after the effective date hereof pursuant to Section 2 above, each reference in the Indenture to "the Indenture," "this Indenture," "hereunder," "hereof" or "herein" shall mean and be a reference to the Indenture as supplemented by this Fifth Supplemental Indenture unless the context otherwise requires, and each reference in the Indenture to "the Trustee" shall mean and be a reference to U.S. Bank, including in respect of all series of Debt Securities which have been issued after the date of the Second Supplemental Indenture and remain outstanding, the Notes and for all other purposes under the Indenture, unless the context otherwise requires.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except as specifically amended above and in Section 6 below, the Indenture shall remain in full force and effect and is hereby ratified and confirmed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Nothing contained herein or in the Indenture shall constitute First Trustee and U.S. Bank as co-trustees of the same trust, and each such Trustee shall be Trustee of a trust or trusts under the Indenture separate and apart from any trust or trusts administered by any other such Trustee (in the case of the First Trustee, solely to the extent applicable with respect to the series of Debt Securities issued prior to the date of the Second Supplemental Indenture, which no longer remain outstanding).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Company's obligation and covenant to compensate and indemnify the Trustee pursuant to Section 7.06 of the Indenture shall apply to all reasonable expenses, disbursements and advances and any loss, liability or expense incurred by any Trustee (without negligence, willful misconduct or bad faith on the part of such Trustee, its officers, directors, employees and agents) arising out of or in connection with any series of Debt Securities under the Indenture, regardless of whether such Trustee is the Trustee of such series of Debt Securities.

Section 5. Governing Law.

This Fifth Supplemental Indenture shall be construed and enforced in accordance with, and interpreted under, the internal laws of the State of New York.

Section 6. Counterparts and Methods of Execution.

This Fifth Supplemental Indenture may be executed in several counterparts, all of which together shall constitute one agreement binding on all parties, notwithstanding that all parties have not signed the same counterpart. The words "execution," "signed," "signature," "delivery," and words of like import in or relating to this Fifth Supplemental Indenture or any document to be signed in connection with this Fifth Supplemental Indenture (including, without limitation, the Global Securities, the Guarantee and any Officers' Certificate) shall be deemed to include electronic signatures, deliveries or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, and the parties hereto consent to conduct the transactions contemplated hereunder by electronic means, it being understood that Sections 2.04 and 2.19 of the Indenture shall be deemed amended solely with respect to the Notes to the extent necessary to permit the execution and authentication of the applicable Global Securities and the Guarantee by such electronic signatures. The Company agrees to assume all risks arising out of the use of using digital signatures and electronic methods to submit communications to the Trustee, including without limitation the risk of the Trustee acting on unauthorized instructions, and the risk of interception and misuse by third parties.

Section 7. Titles.

Section titles are for descriptive purposes only and shall not control or alter the meaning of this Fifth Supplemental Indenture as set forth in the text.

Section 8. The Trustee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Neither Trustee shall be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Fifth Supplemental Indenture (except as to itself).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In the performance of its obligations hereunder, U.S. Bank, as the Trustee for the Notes and for all purposes under the Indenture, shall be provided with all of the rights, benefits, protections, indemnities and immunities afforded to the Trustee pursuant to the Indenture.

[SIGNATURES ON NEXT PAGE]

IN WITNESS WHEREOF, the Company, Block, First Trustee and U.S. Bank have caused this Fifth Supplemental Indenture to be duly executed by their respective officers thereunto duly authorized all as of the day and year first above written.

---

| | |
|:---|:---|
| **H&R BLOCK, INC.** | **H&R BLOCK, INC.** |
| By: | /s/ Colby R. Brown |
| Name: Colby R. Brown | Name: Colby R. Brown |
| Title: Vice President, Treasurer and Insurance | Title: Vice President, Treasurer and Insurance |
| **BLOCK FINANCIAL LLC** | **BLOCK FINANCIAL LLC** |
| By: | /s/ Colby R. Brown |
| Name: Colby R. Brown | Name: Colby R. Brown |
| Title: Vice President, Treasurer | Title: Vice President, Treasurer |
| **U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION,** | **U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION,** |
| **as Trustee** | **as Trustee** |
| By: | /s/ Linda Garcia |
| Name: Linda Garcia | Name: Linda Garcia |
| Title: Vice President | Title: Vice President |
| **DEUTSCHE BANK TRUST COMPANY AMERICAS,** | **DEUTSCHE BANK TRUST COMPANY AMERICAS,** |
| **as First Trustee** | **as First Trustee** |
| By: | /s/ Chris Niesz |
| Name: Chris Niesz | Name: Chris Niesz |
| Title: Director | Title: Director |
| By: | /s/ Sebastian Hidalgo |
| Name: Sebastian Hidalgo | Name: Sebastian Hidalgo |
| Title: Assistant Vice President | Title: Assistant Vice President |

---

[Signature Page to Fifth Supplemental Indenture]

## Exhibit 4.2

**Exhibit 4.2**

**BLOCK FINANCIAL LLC<br> OFFICERS' CERTIFICATE**

The undersigned, Tiffany L. Mason, President of Block Financial LLC, a Delaware limited liability company (f/k/a Block Financial Corporation, the "Issuer"), and Colby R. Brown, Vice President, Treasurer of the Issuer, do hereby certify that, pursuant to the Indenture, dated as of October 20, 1997 (the "Base Indenture"), among the Issuer, H&R Block, Inc. ("Block") and Deutsche Bank Trust Company Americas (f/k/a Bankers Trust Company) ("Deutsche Bank"), as supplemented by that certain Fifth Supplemental Indenture, dated as of the date hereof, among the Issuer, Block, Deutsche Bank and U.S. Bank Trust Company, National Association, as separate trustee under the Indenture in respect of the series of debt securities of the Issuer being established hereby and as successor trustee to Deutsche Bank for all purposes under the Indenture from and after the date thereof (together with the Base Indenture, the "Indenture"), a series of debt securities of the Issuer is hereby established with the terms set forth below. Unless otherwise defined in this Officers' Certificate (this "Certificate"), capitalized terms used herein have the meanings given thereto in the Indenture.

(1) The title of the securities shall be the "5.375% Notes due 2032" (the "Notes").

(2) U.S. Bank Trust Company, National Association has been appointed as the Trustee under the Indenture and
as Registrar, Paying Agent, transfer agent and authenticating agent with respect to the Notes.

(3) The aggregate principal amount of the Notes which may be initially authenticated and delivered under the
Indenture shall be initially limited to a maximum of $350,000,000, subject to the right of the Issuer to issue additional principal amount
of the Notes at any time and from time to time in the future on the same terms and conditions (except for any differences in the issue
price and interest accrued prior to the issue date of the additional Notes), and with the same CUSIP number, as the Notes issued hereby;
provided that if such additional Notes are not fungible for U.S. federal income tax purposes with the original Notes, such additional
Notes shall have a separate CUSIP number.

(4) The Stated Maturity of the Notes is September 15, 2032.

(5) The Notes shall bear interest
at the rate of 5.375% per annum (the "Original Interest Rate"), which interest shall accrue from August 26, 2025
or from the most recent Interest Payment Date (as defined below) to which interest has been paid or duly provided for, on the Notes until
their principal is paid.

(6) Interest on the Notes shall be payable semi-annually on March 15 and September 15 of each year
(each, an "Interest Payment Date"), commencing on March 15, 2026, to Holders of record at the close of business on the
March 1 or September 1, respectively, next preceding each such Interest Payment Date, whether or not a Business Day.

(7) The Issuer hereby designates as Places of Payment for the Notes (i) the principal corporate trust
office of U.S. Bank Trust Company, National Association in St. Paul, Minnesota, or (ii) any other banking institution hereafter selected
by the officers of the Issuer. Such Place of Payment shall also be (a) where the Notes may be presented for registration of transfer
or exchange, (b) where notices and demands to or upon the Issuer in respect of the Notes or the Indenture may be made or served and
(c) where the Notes may be presented for payment of principal, premium, if any, and interest.

(8) The Notes are approved in the form attached hereto as Exhibit A and shall be issued upon original
issuance in whole in the form of book-entry Global Securities, and the Depositary shall be The Depository Trust Company, New York, New
York. Such Global Securities shall bear the legends set forth in the form of Note attached as Exhibit A hereto.

(9) In addition to the circumstances specified in Section 2.15(c)(i) and (ii) of the Base Indenture,
the Global Securities may be exchanged for individual Notes in definitive registered form if an Event of Default has occurred and is continuing.

(10) The Issuer may, at its option, redeem the Notes, in whole or in part, at any time prior to July 15,
2032 (which is the date that is two months prior to the maturity date of the Notes) (the " <u>Par Call Date</u> ") at a redemption
price (expressed as a percentage of principal amount and rounded to three decimal places) equal to the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) (i) the sum of the present values of the remaining scheduled payments of principal and interest thereon
discounted to the redemption date (assuming the notes matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting
of twelve 30-day months) at the Treasury Rate plus 25 basis points less (ii) interest accrued to the date of redemption, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) 100% of the principal amount of the notes to be redeemed,

plus, in either case, accrued and unpaid interest thereon to the redemption date.

The Issuer may, at its option, redeem the Notes, in whole or in part, at any time on or following the Par Call Date at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to the redemption date.

For purposes of the Notes:

"<u>Treasury Rate</u>" means, with respect to any redemption date, the yield determined by the Issuer in accordance with the following two paragraphs.

The Treasury Rate shall be determined by the Issuer after 4:15 p.m., New York City time (or after such time as yields on U.S. government securities are posted daily by the Board of Governors of the Federal Reserve System), on the third business day preceding the redemption date based upon the yield or yields for the most recent day that appear after such time on such day in the most recent statistical release published by the Board of Governors of the Federal Reserve System designated as "Selected Interest Rates (Daily) - H.15" (or any successor designation or publication) ("<u>H.15</u>") under the caption "U.S. government securities–Treasury constant maturities–Nominal" (or any successor caption or heading) ("<u>H.15 TCM</u>"). In determining the Treasury Rate, the Issuer shall select, as applicable: (1) the yield for the Treasury constant maturity on H.15 exactly equal to the period from the redemption date to the Par Call Date (the "<u>Remaining Life</u>"); or (2) if there is no such Treasury constant maturity on H.15 exactly equal to the Remaining Life, the two yields – one yield corresponding to the Treasury constant maturity on H.15 immediately shorter than and one yield corresponding to the Treasury constant maturity on H.15 immediately longer than the Remaining Life – and shall interpolate to the Par Call Date on a straight-line basis (using the actual number of days) using such yields and rounding the result to three decimal places; or (3) if there is no such Treasury constant maturity on H.15 shorter than or longer than the Remaining Life, the yield for the single Treasury constant maturity on H.15 closest to the Remaining Life. For purposes of this paragraph, the applicable Treasury constant maturity or maturities on H.15 shall be deemed to have a maturity date equal to the relevant number of months or years, as applicable, of such Treasury constant maturity from the redemption date.

If on the third business day preceding the redemption date H.15 TCM is no longer published, the Issuer will calculate the Treasury Rate based on the rate per annum equal to the semi-annual equivalent yield to maturity at 11:00 a.m., New York City time, on the second business day preceding such redemption date of the United States Treasury security maturing on, or with a maturity that is closest to, the Par Call Date, as applicable. If there is no United States Treasury security maturing on the Par Call Date but there are two or more United States Treasury securities with a maturity date equally distant from the Par Call Date, one with a maturity date preceding the Par Call Date and one with a maturity date following the Par Call Date, the Issuer will select the United States Treasury security with a maturity date preceding the Par Call Date. If there are two or more United States Treasury securities maturing on the Par Call Date or two or more United States Treasury securities meeting the criteria of the preceding sentence, the Issuer will select from among these two or more United States Treasury securities the United States Treasury security that is trading closest to par based upon the average of the bid and asked prices for such United States Treasury securities at 11:00 a.m., New York City time. In determining the Treasury Rate in accordance with the terms of this paragraph, the semi-annual yield to maturity of the applicable United States Treasury security shall be based upon the average of the bid and asked prices (expressed as a percentage of principal amount) at 11:00 a.m., New York City time, of such United States Treasury security, and rounded to three decimal places.

The Issuer's actions and determinations in determining the redemption price will be conclusive and binding for all purposes, absent manifest error.

The Issuer shall mail or electronically deliver (or otherwise transmit in accordance with the Depositary's procedures) notice of any redemption at least 10 days but not more than 60 days before the redemption date to each Holder of the Notes to be redeemed (with notice to the Trustee given at least five days prior to when notice is provided to Holders, unless a shorter period is agreed to by the Trustee). Any notice of redemption may, at the Issuer's discretion, be conditioned on the satisfaction of one or more conditions precedent, including, but not limited to, the occurrence or consummation of any event or transaction as described in the notice before the date fixed for the redemption. A notice of conditional redemption will be of no effect unless all conditions to the redemption have occurred before the redemption date or have been waived by the Issuer. Unless the Issuer defaults in payment of the redemption price, on and after the redemption date, interest shall cease to accrue on the Notes or portions of the Notes called for redemption.

If less than all of the Notes are to be redeemed at any time, the Trustee shall select Notes for redemption in accordance with its policies and procedures; provided, however, that, so long as the Notes are held in book-entry form, the Notes shall be selected for redemption in accordance with the Depositary's then-current practice.

(11) Upon the occurrence of a Change of Control Triggering Event (as defined herein), unless the Issuer has
exercised its right to redeem the Notes pursuant to paragraph 10 hereof, each Holder of Notes will have the right to require the Issuer
to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of such Holder's Notes as provided
herein (the " <u>Change of Control Offer</u> ") at a purchase price in cash equal to 101% of the aggregate principal amount
of the Notes repurchased, plus accrued and unpaid interest, if any, on the Notes repurchased, to the date of purchase (the " <u>Change of Control Payment</u> "). Within 30 days following any Change of Control Triggering Event, the Issuer shall send a notice to each
Holder of Notes, with a written copy to the Trustee, which notice shall govern the terms of the Change of Control Offer. Such notice shall
state:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a description of the transaction or transactions that constitute such Change of Control Triggering Event;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) that the Change of Control Offer is being made pursuant to this paragraph 11 and that all Notes validly
tendered will be accepted for payment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the Change of Control Payment and the date on which the Change of Control Payment will be made (the " <u>Change of Control Payment Date</u> "), which shall be a Business Day that is no earlier than 30 days nor later than 60 days from the date
the notice is sent, other than as may be required by law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) that any Note not tendered will continue to accrue interest;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) that any Note accepted for payment pursuant to the Change of Control Offer shall cease to accrue interest
on and after the Change of Control Payment Date unless the Issuer shall default in the Change of Control Payment and the only remaining
right of the Holder thereof is to receive the Change of Control Payment upon surrender of such Note to the Paying Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) that Holders of the Notes electing to have a portion of a Note purchased pursuant to the Change of Control
Offer may only elect to have such Note purchased in a principal amount of $2,000 or integral multiples of $1,000 in excess thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) that if a Holder of Notes elects to have such Notes purchased pursuant to the Change of Control Offer
it will be required to surrender such Notes, with the form entitled "Option of Holder to Elect Purchase" on the reverse of
such Notes completed, or transfer by book-entry transfer, to the Paying Agent at the address specified in the notice prior to the close
of business on the third Business Day prior to the Change of Control Payment Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) that a Holder of Notes will be entitled to withdraw its election if the Issuer receives, not later than
the third Business Day preceding the Change of Control Payment Date, a telegram, telex, facsimile transmission or letter setting forth
the name of such Holder, the principal amount of Notes such Holder delivered for purchase, and a statement that such Holder is withdrawing
its election to have such Notes purchased; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) that if Notes are purchased only in part a new Note of the same type will be issued in a principal amount
equal to the unpurchased portion of such Notes surrendered.

On the Change of Control Payment Date, the Issuer shall, to the extent lawful, (a) accept for payment all Notes or portions thereof properly tendered pursuant to the Change of Control Offer, (b) deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions thereof properly tendered and (c) deliver or cause to be delivered to the Trustee for cancellation the Notes properly accepted together with an Officers' Certificate stating the aggregate principal amount of Notes or portions thereof being purchased by the Issuer. The Paying Agent shall promptly send to each Holder of such Notes properly tendered the Change of Control Payment for such Notes, and the Trustee, upon receipt of an order from the Issuer, shall promptly authenticate and send (or cause to be transferred by book entry) to such Holder a new Note equal in principal amount to any unpurchased portion of the Notes surrendered by such Holder, if any, in denominations as set forth in the Indenture.

The Issuer shall comply with the requirements of Rule 14e-1 under the Securities Exchange Act of 1934, as amended (the "<u>Exchange Act</u>"), and any other applicable securities laws and regulations thereunder to the extent these laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any securities laws or regulations conflict with this paragraph 11, the Issuer and Block will comply with the applicable securities laws and regulations and will not be deemed to have breached its or their obligations under this paragraph 11 by virtue of such conflicts.

For purposes of the Notes:

"<u>Below Investment Grade Rating Event</u>" means the ratings on the Notes are lowered by each of the Rating Agencies and the Notes are rated below an Investment Grade Rating by each of the Rating Agencies on any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the occurrence of the Change of Control (which 60-day period shall be extended so long as the rating of the Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies); provided that a Below Investment Grade Rating Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a Below Investment Grade Rating Event for purposes of the definition of Change of Control Triggering Event hereunder) if the Rating Agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the Trustee or the Issuer in writing at the Trustee's or the Issuer's request that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control shall have occurred at the time of the Below Investment Grade Rating Event).

"<u>Capital Stock</u>" of any Person means any and all shares, interests, rights to purchase, warrants, options, participation or other equivalents of or interests in (however designated) equity of such Person, including any preferred stock and limited liability or partnership interests (whether general or limited), but excluding any debt securities convertible into such equity.

"<u>Change of Control</u>" means the occurrence of any of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or
consolidation), in one or a series of related transactions, of all or substantially all of Block's properties or assets and of Block's
Subsidiaries' properties or assets taken as a whole to any Person or group of related "persons" (as that term is used
in Section 13(d)(3) of the Exchange Act) (a "Group") other than the Issuer or Block or one of their Subsidiaries
or a holding company satisfying the conditions of the proviso below;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the adoption of a plan relating to liquidation or dissolution of Block;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the consummation of any transaction (including, without limitation, any merger or consolidation) the result
of which is that any Person or Group (other than the Issuer or Block or one of their subsidiaries) becomes the beneficial owner, directly
or indirectly, of more than 50% of the then outstanding number of shares of the Issuer's or Block's Voting Stock; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the first day on which a majority of the members of the board of directors of Block are not Continuing
Directors.

Notwithstanding the foregoing, a transaction will not be considered to be a Change of Control if (i) Block becomes a direct or indirect, wholly-owned subsidiary of a holding company or transfers all or substantially all of its assets to a holding company and (ii) immediately following that transaction, (A) the direct or indirect holders of the Voting Stock of the holding company are substantially the same as the holders of Block's Voting Stock immediately prior to that transaction or (B) no Person or Group is the beneficial owner, directly or indirectly, of more than 50% of the Voting Stock of the holding company.

"<u>Change of Control Triggering Event</u>" means the occurrence of both a Change of Control and a Below Investment Grade Rating Event.

"<u>Continuing Director</u>" means, as of any date of determination, any member of the board of directors of Block who (i) was a member of the board of directors of Block on the date of the issuance of the Notes or (ii) was nominated for election, elected or appointed to Block's board of directors with the approval of a majority of the Continuing Directors who were members of the board of directors of Block at the time of such nomination, election or appointment (either by a specific vote or by approval of Block's proxy statement in which such member was named as a nominee for election as a director).

"<u>Investment Grade Rating</u>" means a rating equal to or higher than Baa3 (or the equivalent) by Moody's and BBB- (or the equivalent) by S&P.

"<u>Moody's</u>" means Moody's Investors Service, Inc. or its successor.

"<u>Person</u>" means any individual, corporation, partnership, joint venture, association, joint stock company, trust, unincorporated organization, limited liability company, government or any agency or political subdivision thereof or any other entity, and includes a "person" as used in Section 13(d)(3) of the Exchange Act.

"<u>Rating Agencies</u>" means (i) each of Moody's and S&P and (ii) if either of Moody's or S&P ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Issuer's control, a "nationally recognized statistical rating organization" within the meaning of Section 3(a)(62) under the Exchange Act selected by Block (as certified by a resolution of the board of directors of Block) as a replacement agency for Moody's or S&P, or either of them, as the case may be.

"<u>S&P</u>" means Standard & Poor's Ratings Services, a division of The McGraw-Hill Companies, Inc. or its successor.

"<u>Voting Stock</u>" of a Person means all classes of Capital Stock of such Person then outstanding and normally entitled to vote in the election of directors, managers or trustees, as applicable.

(12) Unless a Change of Control Triggering Event has occurred with respect to the Notes, the Holders of the
Notes shall not have the right to demand repayment of the Notes prior to maturity.

(13) The Notes shall be general unsecured obligations of the Issuer and shall rank equal in right of payment,
on a pari passu basis, with all of its other existing and future unsecured and unsubordinated senior indebtedness. The Notes shall be
fully and unconditionally guaranteed on a senior unsecured basis by Block. The guarantees of the Notes shall rank equal in right of payment,
on a pari passu basis, with all of Block's existing and future unsecured and unsubordinated senior indebtedness and guarantees.

(14) The Notes shall not be subject to any sinking fund requirement.

(15) Section 4.10 of the Base Indenture with respect to the Notes shall be replaced with the following:

<u>Limitation on Liens</u>. Unless the Company contemporaneously secures the Notes equally and ratably with (or prior to) such obligation, the Company shall not, and shall not permit any of its Subsidiaries to create or permit to exist any Lien on any Principal Property, or any shares of stock or Indebtedness of a Restricted Subsidiary, whether owned on the date of issuance of the Notes or thereafter acquired, securing any obligation, except for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Permitted Liens; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Liens securing Indebtedness if, after giving pro forma effect to the incurrence of such Indebtedness (and
the receipt and application of the proceeds thereof) or the securing of outstanding Indebtedness, all Indebtedness of the Company and
its Subsidiaries secured by Liens on any Principal Property (other than Permitted Liens), at the time of determination does not exceed
the greater of $250,000,000 or 15% of the total consolidated stockholders' equity of the Company as shown on the audited consolidated
balance sheet contained in the latest annual report to stockholders of the Company.

(16) The definition of "Capitalized Lease Obligation" in the Base Indenture with respect to the
Notes shall be replaced with the following:

"<u>Capitalized Lease Obligation</u>" means an obligation that is required to be classified and accounted for as a capitalized lease or finance lease for financial reporting purposes in accordance with GAAP; and the amount of Indebtedness represented by such obligation shall be the capitalized amount of such obligation determined in accordance with GAAP; and the Stated Maturity thereof shall be the date of the last payment of rent or any other amount due under such lease prior to the first date upon which such lease may be terminated by the lessee without payment of a penalty. Notwithstanding the foregoing, no obligation will be deemed a "Capitalized Lease Obligation" for any purpose under the Indenture if such obligation has been classified as an operating lease in accordance with GAAP.

(17) The definition of "Credit Agreement" in the Base Indenture with respect to the Notes shall
be replaced with the following:

"<u>Credit Agreement</u>" means, as supplemented, amended, modified, refinanced or replaced at any time from time to time, the Fifth Amended and Restated Credit and Guarantee Agreement dated July 11, 2025, among Block Financial LLC, H&R Block, Inc., the lenders party thereto from time to time, and J.P. Morgan Chase Bank, N.A., as Administrative Agent.

(18) The definition of " <u>Permitted Lien</u> " in the Base Indenture with respect to the Notes
shall be replaced with the following:

"<u>Permitted Liens</u>" means, with respect to any Person,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) pledges or deposits by such Person under worker's compensation laws, unemployment insurance laws,
social security laws or similar legislation, or good faith deposits in connection with bids, trade contracts, tenders, contracts (other
than for the payment of Indebtedness) or leases to which such Person is a party, or deposits to secure public or statutory obligations
of such Person or deposits of cash or bonds to secure performance, surety or appeal bonds to which such Person is a party or which are
otherwise required of such Person, or deposits as security for contested taxes or import duties or for the payment of rent or other obligations
of like nature, in each case Incurred in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Liens imposed by law, such as carriers', warehousemen's, laborers', materialmen's,
landlords', repairmen's, vendors', workmen's, operators', factors and mechanics liens, in each case for
sums not yet delinquent by more than 30 days or being contested in good faith by appropriate proceedings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Liens for taxes, assessments and other governmental charges or levies not yet due or which are being contested
in good faith by appropriate proceedings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) survey exceptions, encumbrances, easements or reservations of or with respect to, or rights of others
for or with respect to, licenses, rights-of-way, sewers, electric and other utility lines and usages, telegraph and telephone lines, pipelines,
surface use, operation of equipment, permits, servitudes and other similar matters, or zoning or other restrictions as to the use of real
property or Liens incidental to the conduct of the business of such Person or to the ownership of its properties which were not incurred
in connection with Indebtedness and which do not in the aggregate materially adversely detract from the value of the affected properties
or materially interfere with the ordinary course of business of such Person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Liens existing on or provided for under the terms of agreements existing on the date the Notes are issued
(including, without limitation, under existing credit agreements);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Liens on property at the time the Company or any of its Subsidiaries acquired the property or the entity
owning the property; provided, however, any such Lien may not extend to any other property owned by the Company or any of its Subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Liens on any Principal Property, or any shares of stock or Indebtedness of any Subsidiary, that the Company
or any Subsidiary acquires after the date of the Indenture that are created contemporaneously with such acquisition, or within 24 months
thereafter, to secure or provide for the payment or financing of any part of the purchase price thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Liens and transfers arising from, or in connection with, any securitization, sale or other transfer, or
any financing, involving loans, servicing assets, securities, receivables or other financial assets (or, in each case, portions thereof,
or participations therein) and/or, in each case, related rights and interests;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Liens securing a Hedging Obligation so long as such Hedging Obligation is of the type customarily entered
into for the purpose of limiting risk;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Purchase Money Liens;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Liens securing intercompany Indebtedness and obligations (including under repurchase agreements or other
similar obligations) owed to the Company or a wholly-owned subsidiary of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) Liens on any property to secure Indebtedness incurred in connection with the construction, installation
or financing of pollution control or abatement facilities or other forms of industrial revenue bond financing or Indebtedness issued or
Guaranteed by the United States, any state or any department, agency or instrumentality thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) Government Contract Liens;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) Liens securing Indebtedness of joint ventures in which the Company or a Subsidiary has an interest to
the extent such Liens are on property or assets of such joint ventures;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) Liens arising in connection with payables to brokers and dealers in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) Liens arising in connection with deposits and other liabilities incurred by banking and/or other financial
services or cash management activities in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) banker's Liens, rights of setoff and other similar Liens existing solely with respect to bank accounts
maintained by the Company and its Subsidiaries, in each case granted in the ordinary course of business in favor of the bank or banks
with which such accounts are maintained; provided that, unless the Liens are non-consensual and arise by operation of law, the Liens shall
not secure (either directly or indirectly) the repayment of any Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) Liens resulting from the deposit of funds or evidences of Indebtedness in trust for the purpose of defeasing
Indebtedness of the Company or any of its Subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) legal or equitable Liens deemed to exist by reason of negative pledges or the existence of any litigation
or other legal proceeding and any related lis pendens filing (excluding any attachment prior to judgment lien or attachment lien in aid
of execution on a judgment);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) any attachment Lien being contested in good faith and by proceedings promptly initiated and diligently
conducted upon such Person's actual knowledge thereof, unless the attachment giving rise to the Lien shall not, within sixty days
after the entry thereof, have been discharged or fully bonded or shall not have been discharged within sixty days after the termination
of any such bond;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) any judgment Lien, unless the judgment it secures shall not, within sixty days after the entry thereof,
have been discharged or execution thereof stayed pending appeal, or shall not have been discharged within sixty days after the expiration
of any such stay;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) Liens to banks arising from the issuance of letters of credit issued by such banks or other financial
institutions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) rights of a common owner of any interest in property held by such Person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) any defects, irregularities or deficiencies in title to easements, rights-of-way or other properties which
do not in the aggregate materially adversely affect the Company and its Subsidiaries taken as a whole;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) Liens securing Indebtedness in an aggregate outstanding principal amount not to exceed $300,000,000 on
(i) the property located at One H&R Block Way, Kansas City, Missouri, together with all adjacent properties, including, without
limitation, parking structures, owned by the Company and its Subsidiaries and (ii) all rights, incentives, benefits and other interests
related thereto, including air rights, development rights and tax incentives; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z) Liens to secure any refinancing, refunding, extension, renewal or replacement (or successive refinancings,
refundings, extensions, renewals or replacements), as a whole, or in part, of any obligation secured by any Lien referred to in the foregoing
clauses (e) through (n); provided, however, that (i) such new Lien shall be limited to all or part of the same property that
secured the original Lien (plus improvements on such property) and (ii) the Indebtedness secured by such Lien at such time is not
increased to any amount greater than the sum of (A) the outstanding principal amount or, if greater, committed amount of the obligations
described under clauses (e) through (n) at the time the original Lien became a Permitted Lien under this Indenture and (B) an
amount necessary to pay any fees and expenses, including premiums, related to such refinancing, refunding, extension, renewal or replacement.

(19) The definition of " <u>Principal Property</u> " in the Base Indenture shall be replaced with
the following:

"<u>Principal Property</u>" means, as of any date of determination, any property or assets owned by the Company or any Subsidiary other than any such property or assets which, in the good faith opinion of the Company's board of directors, are not of material importance to the business conducted by the Company and its Subsidiaries taken as a whole; it being understood and agreed that in no event will the term "Principal Property" include any ownership interests in, or any property or assets of any entity whose activities are reported as discontinued operations.

(20) Section 4.08 of the Base Indenture (Maintenance of Properties) shall not be applicable to the Notes.

(21) Upon a covenant defeasance in accordance with Section 11.02 of the Base Indenture (Satisfaction and
Discharge of Indenture; Defeasance; Unclaimed Moneys), the Issuer and Block's obligations under Section 4.07 of the Base Indenture
(Existence), Section 4.09 of the Base Indenture (Payment of Taxes and Other Claims), Section 4.10 of the Base Indenture (Limitation
on Liens), paragraph 15 of this Certificate (Limitation on Liens), Section 4.11 of the Base Indenture (Ownership of BFC) and paragraph
11 of this Certificate (Change of Control Triggering Events) shall terminate.

(22) References in the Indenture to the "Board of Directors" of the Issuer are understood to refer
to its sole manager or any other individual, group or entity that carries out an equivalent role of a board of directors in the future.

(23) Section 6.01(h) of the Base Indenture with respect to the Notes shall be replaced with the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) the entry of an order or decree by a court having competent jurisdiction in the premises for (i) relief
in respect of BFC, the Company or any of its Restricted Subsidiaries or a substantial part of any of their property under Title 11 or
the United States Code or any other Federal or State bankruptcy, insolvency or similar law, (ii) the appointment of a receiver, trustee,
custodian, sequestrator or similar official for BFC, the Company or any such Restricted Subsidiary or for a substantial part of any of
their property (except any decree or order appointing such official of any Restricted Subsidiary pursuant to a plan under which the assets
and operations of such Restricted Subsidiary are transferred to or combined with another Subsidiary or Subsidiaries of the Company or
to the Company), (iii) the winding-up or liquidation of BFC, the Company or any such Restricted Subsidiary (except any decree or
order approving or ordering the winding up or liquidation of the affairs of a Restricted Subsidiary pursuant to a plan under which the
assets and operations of such Restricted Subsidiary are transferred to or combined with another Subsidiary or Subsidiaries of the Company
or to the Company) or (iv) any similar relief is granted under any foreign laws; and in each case, such order or decree shall continue
unstayed and in effect for 60 consecutive days; or

(24) Clauses (a) through (h) of Section 6.01 of the Base Indenture, as amended by paragraph
23 of this Certificate, shall be the only of Events of Default with respect to the Notes. Section 6.01 of the Base Indenture will
be further amended to include the following paragraph after the enumerated Events of Default:

It is understood and agreed that no action, activity, event, order, decree or relief described in either of the two Events of Default described in Section 6.01(g) and Section 6.01(h) that relates solely to any ownership interest in, or any property or assets of, any entity whose activities are reported as discontinued operations will constitute an Event of Default.

(25) Section 6.07 of the Base Indenture with respect to the Notes shall be amended to include the following
sentence at the end of such section:

Except in the case of a Default in the payment of principal of, or premium, if any, or interest on, any Note that is to be paid by the Trustee, as Paying Agent, the Trustee shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, unless a responsible officer of the Trustee shall have received written notice from the Company, BFC or a Holder describing such Default or Event of Default, and stating that such notice is a notice of default.

(26) Section 9.01 of the Base Indenture with respect to the Notes shall be amended to include the following
additional clause (l) following clause (k) thereof:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) to make any change that does not adversely affect the rights of any Holder of Notes.

(27) Section 10.01 of the Base Indenture with respect to the Notes shall be replaced with the following:

Consolidations and Mergers of the Company. Neither the Company nor BFC shall consolidate with or merge with or into any Person, or convey, transfer or lease all or substantially all the assets of the Company on a consolidated basis to any Person (other than the Company or any Subsidiary), unless the following conditions have been satisfied:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) either (a) the Company or BFC shall be the continuing Person in the case of a consolidation or merger
or (b) the resulting, surviving or transferee Person if other than the Company or BFC (the " <u>Successor Company</u> ")
shall be a Person organized and existing under the laws of the United States, any State thereof or the District of Columbia and expressly
assumes, by an indenture supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, all the obligations
of the Company or BFC, as applicable, under the Notes and this Indenture;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) immediately after giving effect to such transaction (and treating any Indebtedness which becomes an obligation
of the Successor Company or any Subsidiary of the Company as a result of such transaction as having been incurred by the Successor Company
or such Subsidiary at the time of such transaction), no Default or Event of Default would occur or be continuing; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the Company shall have delivered to the Trustee an Officers' Certificate and an Opinion of Counsel,
each stating that such consolidation, merger or transfer and each related supplemental indenture, if any, complies with this Indenture.

(28) Clause (2) of Section 11.03 of the Base Indenture with respect to the Notes shall be replaced
with the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the Issuer delivers to the Trustee a certificate from a nationally recognized firm of independent accountants, nationally recognized investment bank or nationally recognized appraisal or valuation firm expressing their opinion that the payments of principal and interest when due and without reinvestment on the deposited U.S. Obligations plus any deposited money without investment will provide cash at such times and in such amounts as will be sufficient to pay the principal, premium and interest when due on all the Debt Securities of such series to maturity or redemption, as the case may be;

(29) Clause (3) of Section 11.03 of the Base Indenture shall not be applicable to the Notes.

(30) The Notes shall be subject to Article XI of the Base Indenture (Satisfaction and Discharge of Indenture;
Defeasance; Unclaimed Moneys), as amended by paragraphs 21, 28 and 29 of this Certificate.

(31) The Notes will be issued in registered form, in denominations of $2,000 and integral multiples of $1,000
in excess thereof.

(32) The initial public offering price of the Notes is 99.787% of the principal amount thereof, plus accrued
interest, if any, from August 26, 2025.

(33) The price to be received by the Issuer from the Underwriters pursuant to the Underwriting Agreement, dated
August 19, 2025, among the Issuer, Block and J.P. Morgan Securities LLC, PNC Capital Markets LLC and U.S. Bancorp Investments, Inc.,
as representatives of the several underwriters named therein, for the Notes shall be 99.137% of the principal amount thereof.

(34) In case of any conflict between this Certificate and the Notes in the form referred to in paragraph 8,
the Notes shall control.

[signature pages follow]

IN WITNESS WHEREOF, I have signed my name as of this 26<sup>th</sup> day of August, 2025.

---

| | |
|:---|:---|
| By: | /s/ Tiffany L. Mason |
| Name: Tiffany L. Mason | Name: Tiffany L. Mason |
| Title: President | Title: President |
| By: | /s/ Colby R. Brown |
| Name: Colby R. Brown | Name: Colby R. Brown |
| Title: Vice President, Treasurer | Title: Vice President, Treasurer |

---

[Signature Page to Officers' Certificate]

**Exhibit A**

**[Form of Note]**

Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation ("DTC"), to the issuer or its agent for registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein.

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| | | |
|:---|:---|:---|
| Number R-1 |  | $350000000 |
|  |  | CUSIP 093662 AK0 |
|  | **Block Financial LLC** |  |
|  | 5.375% Note due 2032 |  |
| **Rate of Interest** | **Maturity Date** | **Original Issue Date** |
| 5.375% | September 15, 2032 | August 26, 2025 |

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BLOCK FINANCIAL LLC, a limited liability company duly organized and existing under the laws of the State of Delaware (herein called the "Company", which term includes any successor corporation under the Indenture referred to on the reverse hereof), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of three hundred and fifty million dollars ($350,000,000), at the office or agency of the Company in St. Paul, Minnesota, on September 15, 2032, in such coin or currency of the United States of America as at the time of payment shall be legal tender for the payment of public and private debts, and to pay interest, at the rate of 5.375% per annum (the "Original Interest Rate"), from the date hereof or from the most recent date to which interest has been paid or duly provided for, semi-annually on March 15 and September 15 of each year and at maturity, on said principal sum at said office or agency, in like coin or currency, commencing on March 15, 2026.

The interest so payable on any March 15 or September 15 will, subject to certain exceptions provided in the Indenture referred to on the reverse hereof, be paid to the person in whose name this Note is registered at the close of business on such March 1 or September 1, as the case may be, next preceding such March 15 or September 15, unless the Company shall default in the payment of interest due on such interest payment date, in which case such defaulted interest, at the option of the Company, may be paid to the person in whose name this Note is registered at the close of business on a special record date for the payment of such defaulted interest established by notice to the registered Holders of Notes not less than ten days preceding such special record date or may be paid in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed. Payment of interest may, at the option of the Company, be made by check mailed to the registered address of the person entitled thereto.

This Note is one of a duly authorized issue of unsecured notes or other evidences of indebtedness of the Company (hereinafter called the "Securities"), of the series hereinafter specified, all issued or to be issued under an indenture dated as of October 20, 1997 (the "Base Indenture"), among the Company (formerly known as Block Financial Corporation), H&R Block, Inc. (the "Guarantor") and Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company) ("DBT"), as supplemented by that certain Fifth Supplemental Indenture, dated as of August 26, 2025 (the "Supplemental Indenture," and together with the Base Indenture, the "Indenture"), among the Company, the Guarantor, DBT and U.S. Bank Trust Company, National Association, as separate trustee under the Indenture and as successor trustee to DBT for all purposes under the Indenture from and after the date thereof (the "Trustee"), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the respective rights and duties thereunder of the Trustee, DBT, the Company, the Guarantor and the Holders of the Securities. The Securities may be issued in one or more series, which different series may be issued in various aggregate principal amounts, may mature at different times, may bear interest at different rates, may have different conversion prices (if any), may be subject to different redemption provisions, may be subject to different sinking, purchase or analogous funds, may be subject to different covenants and Events of Default and may otherwise vary as in the Indenture provided. This Note is one of a series designated as the 5.375% Notes due 2032 of the Company (herein called the "Notes") issued under the Indenture.

Reference is made to the further provisions of this Note set forth on the reverse hereof. Such further provisions shall for all purposes have the same effect as though fully set forth at this place. This Note shall not be valid or become obligatory for any purpose until the certificate of authentication hereon shall have been signed by the Trustee under the Indenture referred to on the reverse hereof.

IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its corporate seal.

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| | | |
|:---|:---|:---|
| Dated: August 26, 2025 | BLOCK FINANCIAL LLC | BLOCK FINANCIAL LLC |
|  | By | |
|  |  | Name: |
|  |  | Title: |
|  | ATTEST: | ATTEST: |
|  | By | |
|  |  | Name: |
|  |  | Title: |

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| | |
|:---|:---|
| **TRUSTEE'S CERTIFICATE OF AUTHENTICATION** | **TRUSTEE'S CERTIFICATE OF AUTHENTICATION** |
| Dated: August 26, 2025 | Dated: August 26, 2025 |
| This is one of the Notes referred to in the within-mentioned Indenture. | This is one of the Notes referred to in the within-mentioned Indenture. |
| U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, AS TRUSTEE | U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, AS TRUSTEE |
| By | |
|  | Name: |
|  | Title: |

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*[Global Note R-1 Signature Page]*

BLOCK FINANCIAL LLC<br> 5.375% Notes 2032

The Company may, at its option, redeem the Notes, in whole or in part, at any time prior to July 15, 2032 (which is the date that is two months prior to the maturity date of the Notes) (the "Par Call Date") at a redemption price (expressed as a percentage of principal amount and rounded to three decimal places) equal to the greater of (1)(a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption date (assuming the Notes matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 25 basis points less (b) interest accrued to the date of redemption, plus accrued and unpaid interest thereon to the redemption date, and (2) 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest thereon to the redemption date.

In addition, the Company may, at its option, redeem the Notes, in whole or in part, at any time on or following the Par Call Date at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to the redemption date.

"Treasury Rate" means, with respect to any redemption date, the yield determined by us in accordance with the following two paragraphs.

The Treasury Rate shall be determined by the Company after 4:15 p.m., New York City time (or after such time as yields on U.S. government securities are posted daily by the Board of Governors of the Federal Reserve System), on the third business day preceding the redemption date based upon the yield or yields for the most recent day that appear after such time on such day in the most recent statistical release published by the Board of Governors of the Federal Reserve System designated as "Selected Interest Rates (Daily)—H.15" (or any successor designation or publication) ("H.15") under the caption "U.S. government securities—Treasury constant maturities—Nominal" (or any successor caption or heading) ("H.15 TCM"). In determining the Treasury Rate, the Company shall select, as applicable: (1) the yield for the Treasury constant maturity on H.15 exactly equal to the period from the redemption date to the Par Call Date (the "Remaining Life"); or (2) if there is no such Treasury constant maturity on H.15 exactly equal to the Remaining Life, the two yields—one yield corresponding to the Treasury constant maturity on H.15 immediately shorter than and one yield corresponding to the Treasury constant maturity on H.15 immediately longer than the Remaining Life—and shall interpolate to the Par Call Date on a straight-line basis (using the actual number of days) using such yields and rounding the result to three decimal places; or (3) if there is no such Treasury constant maturity on H.15 shorter than or longer than the Remaining Life, the yield for the single Treasury constant maturity on H.15 closest to the Remaining Life. For purposes of this paragraph, the applicable Treasury constant maturity or maturities on H.15 shall be deemed to have a maturity date equal to the relevant number of months or years, as applicable, of such Treasury constant maturity from the redemption date.

If on the third business day preceding the redemption date H.15 TCM is no longer published, the Company will calculate the Treasury Rate based on the rate per annum equal to the semi-annual equivalent yield to maturity at 11:00 a.m., New York City time, on the second business day preceding such redemption date of the United States Treasury security maturing on, or with a maturity that is closest to, the Par Call Date, as applicable. If there is no United States Treasury security maturing on the Par Call Date but there are two or more United States Treasury securities with a maturity date equally distant from the Par Call Date, one with a maturity date preceding the Par Call Date and one with a maturity date following the Par Call Date, the Company will select the United States Treasury security with a maturity date preceding the Par Call Date. If there are two or more United States Treasury securities maturing on the Par Call Date or two or more United States Treasury securities meeting the criteria of the preceding sentence, the Company will select from among these two or more United States Treasury securities the United States Treasury security that is trading closest to par based upon the average of the bid and asked prices for such United States Treasury securities at 11:00 a.m., New York City time. In determining the Treasury Rate in accordance with the terms of this paragraph, the semi-annual yield to maturity of the applicable United States Treasury security shall be based upon the average of the bid and asked prices (expressed as a percentage of principal amount) at 11:00 a.m., New York City time, of such United States Treasury security, and rounded to three decimal places.

The Company's actions and determinations in determining the redemption price shall be conclusive and binding for all purposes, absent manifest error.

The Company shall mail or electronically deliver (or otherwise transmit in accordance with DTC's procedures) notice of any redemption at least 10 days but not more than 60 days before the redemption date to each Holder of Notes to be redeemed (with notice to the Trustee given at least five days prior to when notice is provided to Holders, unless a shorter period is agreed to by the Trustee). Any notice of redemption may, at the Company's discretion, be conditioned on the satisfaction of one or more conditions precedent, including, but not limited to, the occurrence or consummation of any event or transaction as described in the notice before the date fixed for the redemption. A notice of conditional redemption will be of no effect unless all conditions to the redemption have occurred before the redemption date or have been waived by the Company. Unless the Company defaults in payment of the redemption price, on and after the redemption date, interest shall cease to accrue on the Notes or portions of the Notes called for redemption.

If less than all of the Notes are to be redeemed at any time, the Trustee shall select Notes for redemption in accordance with its policies and procedures; <u>provided</u>, <u>however</u>, that, so long as the Notes are held in book-entry form, the Notes shall be selected for redemption in accordance with the DTC's then-current practice.

Upon the occurrence of a Change of Control Triggering Event (as defined herein), unless the Company has exercised its right to redeem the Notes, each Holder of Notes will have the right to require the Company to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of such Holder's Notes as provided herein (the "Change of Control Offer") at a purchase price in cash equal to 101% of the aggregate principal amount of such Notes plus accrued and unpaid interest, if any, on such Notes to the date of purchase (the "Change of Control Payment").

Within 30 days following any Change of Control Triggering Event, the Company shall send a notice to each Holder of Notes, with a written copy to the Trustee, which notice shall govern the terms of the Change of Control Offer. Such notice shall state:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a description of the transaction or transactions that constitute such Change of Control Triggering Event;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) that the Change of Control Offer is being made pursuant to provisions hereof and that all Notes validly tendered will be accepted for payment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the Change of Control Payment and the date on which the Change of Control Payment will be made (the "Change of Control Payment Date"), which shall be a Business Day that is no earlier than 30 days nor later than 60 days from the date such notice is sent, other than as may be required by law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) that any Note not tendered will continue to accrue interest;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) that any Note accepted for payment pursuant to the Change of Control Offer shall cease to accrue interest on and after the Change of Control Payment Date unless the Company shall default in the Change of Control Payment and the only remaining right of the Holder thereof is to receive the Change of Control Payment upon surrender of such Note to the Paying Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) that Holders of the Notes electing to have a portion of a Note purchased pursuant to a Change of Control Offer may only elect to have such Note purchased in a principal amount of $2,000 or integral multiples of $1,000 in excess thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) that if a Holder of Notes elects to have such Notes purchased pursuant to the Change of Control Offer it will be required to surrender such Notes, with the form entitled "Option of Holder to Elect Purchase" on the reverse of such Notes completed, or transfer by book-entry transfer, to the Paying Agent at the address specified in the notice prior to the close of business on the third Business Day prior to the Change of Control Payment Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) that a Holder of Notes will be entitled to withdraw its election if the Company receives, not later than the third Business Day preceding the Change of Control Payment Date, a telegram, telex, facsimile transmission or letter setting forth the name of such Holder, the principal amount of Notes such Holder delivered for purchase, and a statement that such Holder is withdrawing its election to have such Notes purchased; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) that if Notes are purchased only in part a new Note of the same type will be issued in a principal amount equal to the unpurchased portion of the Notes surrendered.

On the Change of Control Payment Date, the Company shall, to the extent lawful, (i) accept for payment all Notes or portions thereof properly tendered pursuant to the Change of Control Offer, (ii) deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions thereof properly tendered and (iii) deliver or cause to be delivered to the Trustee for cancellation the Notes properly accepted together with an Officers' Certificate stating the aggregate principal amount of Notes or portions thereof being purchased by the Company. The Paying Agent shall promptly send to each Holder of Notes properly tendered the Change of Control Payment for such Notes, and the Trustee, upon receipt of an order from the Company, shall promptly authenticate and send (or cause to be transferred by book entry) to such Holder a new Note equal in principal amount to any unpurchased portion of the Notes surrendered by such Holder, if any, in denominations as set forth in the Indenture.

The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act of 1934, as amended (the "Exchange Act") and any other applicable securities laws and regulations thereunder to the extent these laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control Triggering Event provisions hereof, the Company and the Guarantor will comply with the applicable securities laws and regulations and will not be deemed to have breached its or their obligations under the Change of Control Triggering Event provisions hereof by virtue of such conflicts.

For all purposes hereof:

"Below Investment Grade Rating Event" means the ratings on the Notes are lowered by each of the Rating Agencies and the Notes are rated below an Investment Grade Rating by each of the Rating Agencies on any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the occurrence of the Change of Control (which 60-day period shall be extended so long as the rating of the Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies); provided that a Below Investment Grade Rating Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a Below Investment Grade Rating Event for purposes of the definition of Change of Control Triggering Event hereunder) if the Rating Agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the Trustee or the Company in writing at the Trustee's or the Company's request that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control shall have occurred at the time of the Below Investment Grade Rating Event).

"Capital Stock" of any Person means any and all shares, interests, rights to purchase, warrants, options, participation or other equivalents of or interests in (however designated) equity of such Person, including any preferred stock and limited liability or partnership interests (whether general or limited), but excluding any debt securities convertible into such equity.

"Change of Control" means the occurrence of any of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the Guarantor's properties or assets and of the Guarantor's Subsidiaries' properties or assets taken as a whole to any Person or group of related "persons" (as that term is used in Section 13(d)(3) of the Exchange Act) (a "Group") other than the Company or Guarantor or one of their Subsidiaries or a holding company satisfying the conditions of the proviso below;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the adoption of a plan relating to the liquidation or dissolution of the Guarantor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any Person or Group (other than the Company or the Guarantor or one of their subsidiaries) becomes the beneficial owner, directly or indirectly, of more than 50% of the then outstanding number of shares of the Company's or the Guarantor's Voting Stock; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the first day on which a majority of the members of the Guarantor's Board of Directors are not Continuing Directors.

Notwithstanding the foregoing, a transaction will not be considered to be a Change of Control if (1) the Guarantor becomes a direct or indirect wholly-owned subsidiary of a holding company or transfers all or substantially all of its assets to a holding company and (2) immediately following that transaction, (A) the direct or indirect holders of the Voting Stock of the holding company are substantially the same as the Holders of the Guarantor's Voting Stock immediately prior to that transaction or (B) no Person or Group is the beneficial owner, directly or indirectly, of more than 50% of the Voting Stock of the holding company.

"Change of Control Triggering Event" means the occurrence of both a Change of Control and a Below Investment Grade Rating Event.

"Continuing Director" means, as of any date of determination, any member of the Guarantor's Board of Directors who (1) was a member of the Guarantor's Board of Directors on the date of the issuance of the Notes or (2) was nominated for election, elected or appointed to the Guarantor's Board of Directors with the approval of a majority of the Continuing Directors who were members of the Guarantor's Board of Directors at the time of such nomination, election or appointment (either by a specific vote or by approval of the Guarantor's proxy statement in which such member was named as a nominee for election as a director).

"Investment Grade Rating" means a rating equal to or higher than Baa3 (or the equivalent) by Moody's and BBB- (or the equivalent) by S&P.

"Moody's" means Moody's Investors Service, Inc. or its successor.

"Person" means any individual, corporation, partnership, joint venture, association, joint stock company, trust, unincorporated organization, limited liability company, government or any agency or political subdivision thereof or any other entity, and includes a "person" as used in Section 13(d)(3) of the Exchange Act.

"Rating Agencies" means (1) each of Moody's and S&P and (2) if either of Moody's or S&P ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Company's control, a "nationally recognized statistical rating organization" within the meaning of Section 3(a)(62) under the Exchange Act, selected by the Guarantor (as certified by a resolution of the Guarantor's Board of Directors) as a replacement agency for Moody's or S&P or either of them, as the case may be.

"S&P" means Standard & Poor's Ratings Services, a division of The McGraw-Hill Companies, Inc. or its successor.

"Voting Stock" of a Person means all classes of Capital Stock of such Person then outstanding and normally entitled to vote in the election of directors, managers or trustees, as applicable.

Unless a Change of Control Triggering Event has occurred, the Holders of the Notes shall not have the right to demand repayment of the Notes prior to maturity.

The Notes will not be entitled to any sinking fund.

In case an Event of Default with respect to the Notes, as defined in the Indenture, shall have occurred and be continuing, the principal hereof together with interest accrued thereon, if any, may be declared, and upon such declaration shall become, due and payable, in the manner, with the effect and subject to the conditions provided in the Indenture.

The Indenture contains provisions permitting the Company, the Guarantor and the Trustee, with the consent of the Holders of not less than a majority in aggregate principal amount of the outstanding Notes to execute supplemental indentures adding any provisions to or changing in any manner or eliminating any of the provisions of the Indenture or of any supplemental indenture or modifying in any manner the rights of the Holders of the Notes; provided, however, that no such supplemental indenture shall, among other things, (i) reduce the percentage in principal amount of Notes whose Holders must consent to an amendment; (ii) reduce the rate of or extend the time for payment of interest on any Notes; (iii) reduce the principal of or extend the Stated Maturity of any Notes; (iv) reduce the premium payable upon the redemption of any Notes or change the time at which any Notes may or will be redeemed; (v) make any Notes payable in Currency other than that stated in the Notes; (vi) release any security that may have been granted in respect of the Notes; or (vii) make any change in any of the provisions of the Indenture relating to directing the Trustee and waiving defaults or amendments that require unanimous consent. It is also provided in the Indenture that the Holders of a majority in aggregate principal amount of the Securities of a series at the time outstanding may on behalf of the Holders of all the Securities of such series waive any past default under the Indenture with respect to such series and its consequences, except a default in the payment of the principal of, premium, if any, or interest, if any, on any Security of such series or in respect of a covenant or provision which cannot be modified without the consent of each Holder affected thereby. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders and owners of this Note and any Notes which may be issued in exchange or substitution herefor, irrespective of whether or not any notation thereof is made upon this Note or such other Notes.

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of, if any, and interest on this Note at the place, at the respective times, at the rate and in the coin or currency herein prescribed.

The Indenture permits the Company to discharge its obligations with respect to the Notes following the satisfaction of the conditions set forth in the Indenture, which include the deposit with the Trustee of money or U.S. Government Obligations or a combination thereof sufficient to pay and discharge each installment of principal of (including premium, if any, on) and interest, if any, on the outstanding Notes.

If the Company or Guarantor shall, in accordance with Section 10.01 of the Indenture, consolidate with or merge with or into any other Person or convey, transfer or lease all or substantially all the assets of the Guarantor on a consolidated basis to any Person (other than the Company or any Subsidiary) the successor shall succeed to, and be substituted for, the Person named as the "Company" on the face of this Note or the Guarantee, as applicable, all on the terms set forth in the Indenture.

The Notes are issuable in registered form without coupons in denominations of $2,000 and any integral multiple of $1,000. In the manner and subject to the limitations provided in the Indenture, but without the payment of any service charge, Notes may be exchanged for an equal aggregate principal amount of Notes of other authorized denominations at the office or agency of the Company maintained for such purpose.

Prior to due presentment for registration of transfer of this Note, the Company, the Trustee and any agent of the Company or the Trustee may deem and treat the registered Holder hereof as the absolute owner of this Note (whether or not this Note shall be overdue) for the purpose of receiving payment of the principal of, premium, if any, and interest on this Note, as herein provided, and for all other purposes, and neither the Company nor the Trustee nor any agent of the Company or the Trustee shall be affected by any notice of the contrary. All payments made to or upon the order of such registered Holder shall, to the extent of the sum or sums paid, effectually satisfy and discharge liability for moneys payable on this Note.

No recourse for the payment of the principal of, premium, if any, or interest on this Note, or for any claim based hereon or otherwise in respect hereof, and no recourse under or upon any obligation, covenant or agreement of the Company in the Indenture or any indenture supplemental thereto or in any Note, or because of the creation of any indebtedness represented thereby, shall be had against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company or of any successor corporation, either directly or through the Company or any successor corporation, whether by virtue of any constitution, statute or rule of law or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issue hereof, expressly waived and released.

Unless otherwise defined in this Note, all terms used in this Note which are defined in the Indenture shall have the meanings assigned to them in the Indenture.

THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

H&R BLOCK, INC., a Missouri corporation (the "Guarantor", which term includes any successor under the Indenture (the "Indenture") referred to in the Note on which this notation is endorsed) has fully and unconditionally guaranteed, pursuant to the terms of the Guarantees contained in Article XIII of the Indenture, the due and punctual payment of the principal of and any premium and interest on this Note, when and as the same shall become due and payable, whether at the Stated Maturity, by declaration of acceleration, call for redemption or otherwise, in accordance with the terms of this Note and the Indenture.

The obligations of the Guarantor to the Holders of the Securities and to the Trustee pursuant to the Guarantees and the Indenture are expressly set forth in Article XIII of the Indenture, and reference is hereby made to such Article and Indenture for the precise terms of the Guarantees.

The Guarantees shall not be valid or obligatory for any purpose until the certificate of authentication on the Debt Security upon which this notation of the Guarantees is endorsed shall have been executed by the Trustee under the Indenture by the signature of one of its authorized signatories.

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| | | |
|:---|:---|:---|
| Dated: August 26, 2025 | H&R BLOCK, INC. | H&R BLOCK, INC. |
|  | By | |
|  |  | Name: |
|  |  | Title: |

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*[Guarantee R-1 Signature Page]*

ABBREVIATIONS

The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out in full according to applicable laws or regulations

TEN COM -- as tenants in common

TEN ENT -- as tenants by the entireties

JT TEN -- as joint tenants with right of survivorship and not as tenants in common

UNIF GIFT MIN ACT --<u> </u>Custodian<u> </u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cust) (Minor)

Under Uniform Gifts to Minors Act<u> </u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (State)

Additional abbreviations may also be used though not in the above list.

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s)<br> and transfer(s) unto

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|:---|:---|
| [PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE] | [PLEASE PRINT OR TYPE NAME AND ADDRESS INCLUDING ZIP CODE, OF ASSIGNEE] |
| Within Note and all rights thereunder, hereby irrevocably constituting and appointing such person attorney to transfer such note on the books of the Issuer, with full power of substitution in the premises. | Within Note and all rights thereunder, hereby irrevocably constituting and appointing such person attorney to transfer such note on the books of the Issuer, with full power of substitution in the premises. |
| DATE | SIGNATURE |

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NOTICE: The signature must correspond with the name as written upon the face of the within Note in every particular without alteration or enlargement or any change whatsoever.

**OPTION OF HOLDER TO ELECT PURCHASE**

If the undersigned wants to elect to have this Note purchased by the Company pursuant to the provisions hereof, check the box below:

◻

If the undersigned wants to elect to have only part of this Note purchased by the Company pursuant to the provisions hereof, state the amount the undersigned elects to have purchased:

$

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|:---|
| Dated: |
| Signature: |
| Tax Identification Number: |
| Signature Guarantee: |

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NOTE: The signature to this assignment must correspond exactly with the name as written upon the face of the within Global Note in every particular without alteration or enlargement or any change whatsoever and must be guaranteed by a commercial bank or trust company having its principal office or correspondent in The City of New York or by a member of the New York Stock Exchange.

*[Guarantee R-1 Signature Page]*

## Exhibit 5.1

**Exhibit 5.1**

![](tm2522221d5_ex5-1img001.jpg)

August 26, 2025

Block Financial LLC

H&R Block, Inc.

One H&R Block Way

Kansas City, Missouri 64105

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|:---|:---|
| Re: | Offering of 5.375% Notes due 2032 |

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Ladies and Gentlemen:

We have acted as counsel to Block Financial LLC, a Delaware limited liability company (the "**Issuer**"), and H&R Block, Inc., a Missouri corporation (the "**Guarantor**" and together with the Issuer, the "**Companies**"), in connection with the offer and sale by the Issuer of $350 million in aggregate principal amount of the Issuer's 5.375% Notes due 2032 (the "**Notes**") and the related guarantees thereof by the Guarantor (the "**Guarantees**") endorsed on the Notes, pursuant to the Underwriting Agreement dated August 19, 2025 (the "**Underwriting Agreement**") among the Issuer, the Guarantor, and J.P. Morgan Securities LLC, PNC Capital Markets LLC, and U.S. Bancorp Investments, Inc. for themselves and as representatives of the underwriters listed in Schedule A thereto.

In so acting, we have reviewed originals or copies (certified or otherwise identified to our satisfaction) of (i) the Underwriting Agreement; (ii) the Registration Statement on Form S-3 (File No. 333-281584) filed with the U.S. Securities and Exchange Commission on August 15, 2024 (the "**Registration Statement**") under the Securities Act of 1933, as amended (the "**Securities Act**"); (iii) the prospectus dated August 15, 2024 (the "**Base Prospectus**"), which forms a part of the Registration Statement; (iv) the prospectus supplement dated August 19, 2025 (the "**Prospectus Supplement**," and, together with the Base Prospectus, the "**Prospectus**"); (v) the Indenture dated as of October 20, 1997 (the "**Original Indenture**"), among Block Financial Corporation, as predecessor to the Issuer, the Guarantor, Deutsche Bank Trust Company Americas (f/k/a Bankers Trust Company), as trustee (the "**First Trustee**"); (vi) the First Supplemental Indenture, dated as of April 18, 2000 (the "**First Supplemental Indenture**"), among Block Financial Corporation, as predecessor to the Issuer, the Guarantor, the First Trustee and The Bank of New York, as separate trustee under the Original Indenture in respect of the Issuer's 8.50% Notes due 2007; (vii) the Second Supplemental Indenture, dated as of September 30, 2015 (the "**Second Supplemental Indenture**"), among the Issuer, the Guarantor, the First Trustee and U.S. Bank National Association (the "**Second Trustee**"), as separate trustee under the Original Indenture in respect of the Issuer's 4.125% Notes due 2020 and 5.250% Notes due 2025; (viii) the Third Supplemental Indenture, dated as of August 7, 2020 (the "**Third Supplemental Indenture**") among the Issuer, the Guarantor, the First Trustee and the Second Trustee, as separate trustee under the Indenture in respect of the Issuer's 3.875% Notes due 2030; (ix) the Fourth Supplemental Indenture, dated as of June 25, 2021 (the "**Fourth Supplemental Indenture**") among the Issuer, the Guarantor, the First Trustee and the Second Trustee, as separate trustee under the Indenture in respect of the Issuer's 2.500% Notes due 2025; (x) the Fifth Supplemental Indenture, dated as of August 26, 2025 (the "**Fifth Supplemental Indenture**") among the Issuer, the Guarantor, the First Trustee and the Second Trustee, as separate trustee under the Indenture in respect of the Notes and successor trustee to First Trustee for all purposes under the Indenture from and after the date thereof; (xi) the Officers' Certificate of the Issuer dated as of August 26, 2025, establishing the terms of the Notes (the Officers' Certificate, together with the Original Indenture, as supplemented by the First Supplemental Indenture, the Second Supplemental Indenture, the Third Supplemental Indenture, the Fourth Supplemental Indenture, and the Fifth Supplemental Indenture, collectively, the "**Indenture**"); (xii) an executed copy of the global note representing the Notes and the Guarantees endorsed on the Notes; and (xiii) such corporate and limited liability company records, agreements, documents and other instruments, and such certificates or comparable documents of public officials and of officers and other representatives of the Companies, and have made such inquiries of such officers and representatives, as we have deemed relevant and necessary as a basis for the opinions set forth below, and we have assumed that such certificates and other documents and responses to our inquiries are true and correct as of the date hereof, without independent investigation on our part.

Block Financial LLC

H&R Block, Inc.

In issuing this opinion letter, with your permission, we have assumed, without independent investigation on our part, that (a) each agreement, certificate, document, instrument, record and paper (as used in this paragraph, each, a "**document**") reviewed by us as an original is authentic; (b) each document reviewed by us as a certified, conformed, telecopied or photostatic copy conforms to the original of such document and each such original is authentic; (c) all signatures appearing on the documents reviewed by us are genuine; (d) all natural persons who have signed, or will sign, any document reviewed by us had, or will have, as the case may be, the legal capacity and competency to do so at the time of such signature; (e) the due authorization, execution and delivery of all documents by all parties and the validity, binding effect and enforceability thereof (other than the authorization, execution and delivery of the documents by the Companies); (f) each of the Original Indenture, the First Supplemental Indenture, the Second Supplemental Indenture, the Third Supplemental Indenture, the Fourth Supplemental Indenture, and the Fifth Supplemental Indenture is in full force and effect and has not been terminated; and (g) all Notes will be issued and sold in compliance with the applicable federal and state securities laws and in the manner stated in the Registration Statement and the Prospectus.

Based upon the foregoing, and subject to the assumptions and qualifications set forth in this opinion letter, we are of the opinion as of this date that:

1. When the Notes have been duly executed, authenticated, issued and delivered by or on behalf of the Issuer

against payment therefor in accordance with the terms of the Underwriting Agreement and the Indenture as described in the Registration Statement and the Prospectus, the Notes will constitute valid and binding obligations of the Issuer enforceable against the Issuer in accordance with their terms.

2. When the Notes have been duly executed, authenticated, issued and delivered by or on behalf of the Issuer

against payment therefor in accordance with the terms of the Underwriting Agreement and the Indenture as described in the Registration Statement and the Prospectus, the Guarantees will constitute the valid and binding obligations of the Guarantor enforceable against the Guarantor in accordance with their terms.

The opinions expressed above with respect to the validity, binding effect and enforceability of the Notes and the Guarantees are subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar laws affecting creditors' rights and remedies generally, and subject, as to enforceability, to general principles of equity, including principles of commercial reasonableness, good faith and fair dealing (regardless of whether enforcement is sought in a proceeding at law or in equity).

The opinions expressed herein are given as of the date hereof only with respect to the present status of the laws of the State of Missouri, State of New York and the limited liability company laws of the State of Delaware (excluding the statutes, ordinances, rules and regulations of counties, towns, municipalities and special political subdivisions of the State of Missouri, State of New York or State of Delaware), and we expressly disclaim any obligation to update or supplement our opinions in response to changes in the law by legislative or regulatory action, judicial decision or otherwise becoming effective hereafter or future events or circumstances affecting the transactions contemplated by the Underwriting Agreement.

We consent to your filing this opinion letter as an exhibit to the Current Report on Form 8-K and to the reference to our firm contained under the heading "Legal Matters" in the Prospectus constituting a part of the Registration Statement. This consent is not to be construed as an admission that we are a person whose consent is required to be filed with the Registration Statement under the provisions of the Securities Act.

This opinion letter is rendered solely for your benefit in connection with the above matter and may be relied upon by you and by persons entitled to rely upon it pursuant to the applicable provisions of the Securities Act, but may not be relied upon in any manner by any other person without our prior written consent.

Sincerely,

**Stinson LLP**

/s/ Stinson LLP