WAFD INC

NOTE J -PREMISES AND EQUIPMENT

The following table provides a summary of premises and equipment by asset type.

NOTE K -CUSTOMER ACCOUNTS

The following tables provide the composition of the Company's customer accounts, including time deposits.

Customer accounts with uninsured or uncollateralized deposits totaled$5,302,026,000 as of September 30, 2025, compared to

$5,134,192,000 as of September 30, 2024.

Interest expense on customer accounts consisted of the following:

NOTE L -BORROWINGS

The Company had total borrowings outstanding at September 30, 2025 with carrying values of$1,765,604,000 compared to

$3,267,589,000 at September 30, 2024. The borrowings consisted of FHLB advances and funds received from the FRB's Bank

Term Funding Program. The table below shows the contractual maturity dates of outstanding FHLB advances.

As of September 30, 2025, there are no advances that are callable by the FHLB. Taking into account cash flow hedges, the

weighted average effective maturity of FHLB advances at September 30, 2025 is 2.19 years.

Financial information pertaining to the weighted-average cost and the amount of FHLB advances were as follows.

The Bank has a credit line with the FHLB - DM equal to 45% of total assets depending on specific collateral eligibility. The

Bank has entered into borrowing agreements with the FHLB - DM to borrow funds under a short-term floating rate cash

management advance program and fixed-rate term loan agreements. All borrowings are secured by stock of the FHLB - DM,

deposits with the FHLB - DM, and a blanket pledge of qualifying loans receivable. The Bank also has a credit line with the

FHLB - SF in support of LBC borrowings from the FHLB - SF, but the Bank is unable to take down new advances against this

line. The FHLB - SF credit line is secured by a line-item pledge of mortgage backed securities.

The Bank had$1,074,714,000 of borrowings from the FRB's Bank Term Funding plan as of September 30, 2024 which

matured and were repaid during fiscal 2025. The Bank also participates in the FRB of San Francisco Borrower-in-Custody

program which collateralizes primary credit borrowings. Due to differing program requirements between the FHLB - DM and

FRB of San Francisco, participating in both increases the amount of eligible collateral that may be pledged in support of

contingent liquidity needs. The Bank is also eligible to borrow under the Federal Reserve Bank's primary credit program.

NOTE M -JUNIOR SUBORDINATED DEFERRABLE INTEREST DEBENTURES

The Company acquiredtwo wholly-owned trust companies (the "Trusts") in the Merger. Formed by LBC, these Trusts issued

guaranteed preferred beneficial interests (the "Trust Securities") in the LBC’s junior subordinated deferrable interest debentures

(the "Notes"). The Company is not considered the primary beneficiary of the Trusts and therefore, the Trusts are not

consolidated in the Company’s financial statements, but rather the junior subordinated debentures are shown as a liability. The

Company’s investment in the common securities of the Trusts, totaling$1.9 million, is included in other assets in the

consolidated statements of financial condition. The sole asset of the Trusts are the Notes that they hold.

The Trusts have invested the proceeds of such Trust Securities in the Notes. Each of the Notes has an interest rate equal to the

corresponding Trust Securities distribution rate. The Company has the right to defer payment of interest on the Notes at any

time or from time to time for a period not exceeding five years provided that no extension period may extend beyond the stated

maturity of the relevant Notes. During any such extension period, distributions on the Trust Securities will also be deferred, and

the Company’s ability to pay dividends on its common stock will be restricted.

The Company assumed LBC's contractual arrangements which, taken collectively, fully and unconditionally guarantee payment

of: (i) accrued and unpaid distributions required to be paid on the Trust Securities; (ii) the redemption price with respect to any

Trust Securities called for redemption by the Trusts; and (iii) payments due upon a voluntary or involuntary dissolution,

winding up or liquidation of the Trusts. The Trust Securities are mandatorily redeemable upon maturity of the Notes, or upon

earlier redemption as provided in the indenture. The Company has the right to redeem the Notes purchased by the Trusts, in

whole or in part, on or after the redemption date. As specified in the indenture, if the Notes are redeemed prior to maturity, the

redemption price will be the principal amount and any accrued but unpaid interest.

The following table is a summary of the outstanding Trust Securities and Notes at September 30, 2025.