Material Agreement, Financial Obligation (Form 8-K)

Item 1.01 Entry into a Material Definitive Agreement

On September 23, 2025, Raymond James Financial, Inc. (the "Company") entered into the Second Amended and Restated Credit Agreement (the "Second Amended and Restated Credit Agreement") with respect to its existing unsecured Amended and Restated Credit Agreement, dated as of April 6, 2023 (the "Credit Agreement"), as amended, among the Company, Raymond James & Associates, Inc., and a syndicate of lenders led by Bank of America, N.A. as administrative agent.

The Second Amended and Restated Credit Agreement amends and restates the Credit Agreement to, among other things, (i) extend the maturity date for any borrowings under the Second Amended and Restated Credit Agreement to September 23, 2030, (ii) increase the facility amount to $1,000,000,000 and (iii) decrease the applicable rate by which interest is calculated such that borrowings under the Second Amended and Restated Credit Agreement will bear interest at the applicable Base Rate, Term SOFR Rate, Daily Floating Term SOFR Rate or Alternative Currency Term Rate (each as defined in the Second Amended and Restated Credit Agreement) plus an applicable rate ranging between 0.000% and 1.300% (decreased from a range between 0.000% and 1.425%) in each case determined with reference to the non-credit-enhanced, senior unsecured long-term debt ratings of the Company.

The above summary of the Second Amended and Restated Credit Agreement is not complete and is qualified in its entirety by reference to the complete text of the Second Amended and Restated Credit Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-BalanceSheet Arrangement of a Registrant.

The information contained in Item 1.01 of this Current Report on Form 8-Kis incorporated herein by reference.