Axos Financial, Inc. Investor Presentation

May 7, 2024

NYSE: AX

Safe Harbor

This presentation contains forward-looking statements that involve risks and uncertainties, including without limitation statements relating to Axos Financial, Inc.'s ("Axos") financial prospects and other projections of its performance and asset quality, Axos' deposit balances and capital ratios, Axos' ability to continue to grow profitably and increase its business, Axos' ability to continue to diversify its lending and deposit franchises, the anticipated timing and financial performance of other offerings, initiatives, and acquisitions, expectations of the environment in which Axos operates and projections of future performance. These forward- looking statements are made on the basis of the views and assumptions of management regarding future events and performance as of the date of this presentation. Actual results and the timing of events could differ materially from those expressed or implied in such forward-looking statements as a result of risks and uncertainties, including without limitation Axos' ability to successfully integrate acquisitions and realize the anticipated benefits of the transactions, changes in the interest rate environment, monetary policy, inflation, government regulation, general economic conditions, changes in the competitive marketplace, conditions in the real estate markets in which we operate, risks associated with credit quality, our ability to attract and retain deposits and access other sources of liquidity, and the outcome and effects of litigation and other factors beyond our control. These and other risks and uncertainties detailed in Axos' periodic reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-Kfor the fiscal year ended June 30, 2023, Form 10-Qfor the quarter ended

March 31, 2024 and its last earnings press release, could cause actual results to differ materially from those expressed or implied in any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-lookingstatements, which speak only as of the date of this press release. Axos undertakes no obligation to publicly update or revise any forward-lookingstatements, whether as a result of new information, future events or otherwise. All written and oral forward-lookingstatements made in connection with this presentation, which are attributable to us or persons acting on Axos' behalf are expressly qualified in their entirety by the foregoing information.

2

Axos' Business Model is Differentiated From Other Banks

Customer

Sales

Servicing

Distribution

Acquisition

›

Digital Marketing

›

Automated

›

Self-service

›

Balance sheet

›

Affinity and

fulfillment

›

Digital journey

›

Whole loan sales

Distribution

›

Inbound call center

›

Direct banker (call

options

Partners

sales

center)

›

Securitization

›

Data mining/target

›

Outbound call

feeding direct

center sales

marketing

›

Minimal outside

›

Cross-selling

sales

›

Significant inside

sales

Core Digital Capabilities

Data Driven

Insight

Integrated

Customer

Experience

Digital

Marketing

Digitally

Enabled

Operations

Next-Gen

Technology

3

Axos is a Top Performer Versus Bank Peer Group

Axos Bank

Peer Group1

Percentile

ROAA

2.09%

0.65%

96%

Return on Equity

21.04%

6.69%

94%

Net Interest Income

4.46%

2.70%

96%

Efficiency Ratio

42.71%

72.82%

6%

The 94% on ROE means that the Bank outperformed 94% of all banks. The 6% efficiency ratio ranking means that only 6% of banks have lower expenses in comparison to their revenues.

Source: Uniform Bank Performance Report (UBPR) as of December 31, 2023; data retrieved March 14, 2024.

4

Note 1: Peer group is all savings banks with assets greater than $1 billion for quarter ended December 31, 2023.

Axos Financial's Three Divisions Provide the Foundation for Sustained Long-term Growth

Investment Thesis

Consumer

Banking

Securities Commercial Banking

  • Diverse mix of assets, deposits, and fee income reduces risk and provides multiple growth opportunities in varying environments
  • Differentiated retail digital strategy from "online savings banks" or fin-tech competitors
  • Structural cost advantage vs. traditional banks
  • Differentiated distribution strategy
  • New business initiatives generate incremental growth
  • Universal Digital Banking Platform and Enterprise Technology stack provide operating leverage opportunity
  • Technology synergies among divisions reduce overall cost of growth strategy

5

Consolidated Fiscal Third Quarter 2024 Highlights Compared with Fiscal Third Quarter 2023

Asset Growth

Deposit Growth

$ Millions

$ Millions

14%

14%

Q3 2024

Net Income

Diluted EPS

$ Millions

$ Diluted EPS

39%

45%

Return on Equity = 20.71%

Return on Assets = 1.98%

6

Diluted EPS and Book Value Per Share Have Been

Consistently Strong

Diluted EPS (FY)

Book Value Per Share (FY)

$ Per Share

$ Per Share

16.4% CAGR

16.4% CAGR

7

Expanding Net Interest Margin Through a Variety of Interest Rate Cycles1

Note 1: The Company partnered with H&R Block Bank (HRB) to provide HRB branded financial products. The partnership was terminated December

8

8, 2020. NIM excludes impact of HRB.

Interest Rate Components of Loan & Lease Portfolio

As of March 31, 2024

Mix of Loan Repricing Types

Fixed/Hybrid Years to Maturity / Repricing1

$ Millions

Years

11% 21% 36% 57% 87% 99% 100%

Note 1: Excludes SF Warehouse Lending and Equipment Leasing. The years to repricing assumes no loan prepayments and reflects only contractual terms.

Of the fixed and hybrid rate loan balances in our portfolio at March 31, 2024, 57% will reprice within 3 years and 87% will reprice within 5 years.

9

Loan Growth by Category

$ Millions

Loans

Single Family

Mortgage &

Warehouse

Multifamily &

Commercial

Mortgage

Commercial

Real Estate

Commercial &

Industrial

Non-RE

Auto & Consumer

Other

Q3 FY24

Q2 FY24

Inc (Dec)

Jumbo Mortgage

$

3,964

$

3,993

$

(29)

SF Warehouse Lending

159

99

60

Multifamily

2,663

2,708

(45)

Small Balance Commercial

1,338

1,357

(19)

CRE Specialty

5,220

5,400

(180)

Lender Finance RE

693

643

50

Lender Finance Non-RE

2,320

2,235

85

Asset-Based and Cash

1,617

1,189

428

Flow Lending

Capital Call Facilities

891

753

138

Auto

399

419

(20)

Unsecured/OD

51

59

(8)

2

5

(3)

$

19,317

$

18,860

$

457

10

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Disclaimer

Axos Financial Inc. published this content on 07 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 May 2024 23:01:07 UTC.