septsupplement

Axos Q1 Fiscal 2025 Earnings Supplement NYSE: AXOctober 30, 2024

2 Loan Growth by Category $ Millions SF Warehouse Lending Multifamily Small Balance Commercial Jumbo Mortgage Asset-Based and Cash Flow Lending Lender Finance Non-RE Capital Call Facilities Auto Unsecured/OD Single Family Mortgage & Warehouse Multifamily & Commercial Mortgage Commercial Real Estate Commercial & Industrial Non-RE Loans Inc (Dec)Q4 FY24Q1 FY25 $ (115)$ 3,922$ 3,807 88257345 (178)2,5412,363 (37)1,3211,284 1895,1895,378 (22)900878 32,3282,331 1711,7971,968 (60)1,1161,056 (13)386373 (2)4442 (1)21 $ 23$ 19,803$ 19,826 Lender Finance RE CRE Specialty Other Auto & Consumer

3 FDIC Loan Purchase Metrics as of September 30, 2024 Remaining Term (Months) Weighted- Average LTV Weighted- Average Yield Before Accretion of Discount Unpaid Principal Balance (mm) Loan Type 4152.0 %7.4 %$ 238Office 1238.64.2122Data Center 1428.68.545Land 950.66.650Other 8669.96.738Industrial 3056.97.233Mixed Use 3049.17.527Retail 3248.4 %6.6 %$ 553Total CRE 13461.36.6350Residential 7572.67.0263 Rent-stabilized / Rent- controlled Multifamily1 10966.2 %6.7 %$ 613Total Multifamily 7257.7 %6.7 %$ 1,166Total Note 1: 1,145 units out of 1,146 total units are rent-stabilized; only 1 is rent-controlled On December 7, 2023, Axos completed a purchase of $1.25 billion of loans from the FDIC at a 37% discount.

4 Commercial Real Estate Specialty1 Detail as of September 30, 2024 Non-Accrual Loans (mm)Weighted Avg. LTVBalance (mm)Loan Type $ 1140 %$ 1,912Multifamily 1539978SFR —41968Hotel —51571Industrial 1533451Other —31301Office —46197Retail $ 4140 %$ 5,378Total Note 1: Includes Commercial Real Estate Specialty loan portfolio only. LTV Distribution

5 DepositsLoans Interest Rate Sensitivity of Loans & Deposits As of September 30, 2024 TotalInterest Rate $ 4,265,2490% ~ 2% $ 1,566,6852% ~ 4% $ 13,340,6304% ~ 6% $ 19,172,564 Non-Time Deposits by Interest Rate (Dollars in Thousands) • $1,018 million of deposits tied to the Federal Funds rate • Deposit rate optionality enhanced by $450 million of off-balance sheet deposits from Axos Securities • Of the fixed and hybrid rate loan balances in our portfolio at September 30, 2024, 64% will reprice within 3 years and 91% will reprice within 5 years.

6 Diversified Deposit Gathering Approximately 90% of deposits are FDIC-insured or collateralized Deposit balances as of September 30, 2024 Note 1: Excludes approximately $450 million of off-balance sheet deposits › Serves approximately 40% of U.S. Chapter 7 bankruptcy trustees in exclusive relationship › Software allows servicing of SEC receivers and non-chapter 7 cases › Full service digital banking, wealth management, and securities trading › White-label banking › Business banking with simple suite of cash management services › 1031 exchange firms › Title and escrow companies › HOA and property management › Business management and entertainment › Broker-dealer client cash › Broker-dealer reserve accounts › Full service treasury/cash management › Team enhancements and geographic expansion › Bank and securities cross-sell Fiduciary Services $1.2B Consumer Direct $11.8B Specialty Deposits $1.5B Distribution Partners $0.5B Axos Securities $0.8B1 Small Business Banking $0.4B Commercial & Treasury Management $3.8B Diversified Deposit Gathering Business Lines

7 Change in Allowance for Credit Losses (ACL) & Unfunded Loan Commitments Reserve (UCL) ($ in millions) ACL + UCL ACL + UCL (9.2)

8 Allowance for Credit Losses (ACL) by Loan Category as of September 30, 2024 $ Millions ACL %1ACLLoan Balance 0.4 %$ 17$ 4,152 1.8 %663,647 1.5 %956,256 1.4 %775,355 2.2 %9416 1.3 %$ 264$ 19,826 Single Family Mortgage & Warehouse Multifamily & Commercial Mortgage Commercial Real Estate Commercial & Industrial Non-RE Auto & Consumer Loans Note 1: ACL % is based on gross unpaid principal balance

9 Credit Quality ($ millions) %Non-Accrual LoansLoans O/SSeptember 30, 2024 1.42 %$ 59$ 4,152Single Family-Mortgage & Warehouse 0.85313,647Multifamily and Commercial Mortgage 0.66416,256Commercial Real Estate 0.82445,355Commercial & Industrial - Non-RE 0.482416Auto & Consumer 0.89 %$ 177$ 19,826Total %Non-Accrual LoansLoans O/SJune 30, 2024 1.10 %$ 46$ 4,179Single Family-Mortgage & Warehouse 0.91353,862Multifamily and Commercial Mortgage 0.43266,089Commercial Real Estate 0.0845,241Commercial & Industrial - Non-RE 0.472432Auto & Consumer 0.57 %$ 113$ 19,803Total %Non-Accrual LoansLoans O/SSeptember 30, 2023 0.85 %$ 37$ 4,314Single Family-Mortgage & Warehouse 1.31392,962Multifamily and Commercial Mortgage 0.42266,169Commercial Real Estate 0.0933,209Commercial & Industrial - Non-RE 0.392508Auto & Consumer 0.62 %$ 107$ 17,162Total

10 September 30, 2023 December 31, 2023 March 31, 2024 June 30, 2024 September 30, 2024 Selected Balance Sheet Data: $ 20,825,206$ 21,623,764$ 22,642,133$ 22,855,334$ 23,569,084Total assets 16,955,04118,264,35418,733,45519,231,38519,280,609Loans—net of allowance for credit losses 8,01413,46816,23916,48214,566Loans held for sale, carried at fair value 170,870251,749257,522260,542263,854Allowance for credit losses 640329592353594Securities—trading 236,726239,812207,582141,611137,996Securities—available-for-sale 96,424145,176105,85367,21284,326Securities borrowed 285,423265,857292,630240,028262,774Customer, broker-dealer and clearing receivables 17,565,74118,203,91219,103,53219,359,21719,973,329Total deposits 90,00090,00090,00090,00090,000Advances from the FHLB 447,733341,086330,389325,679313,519Borrowings, subordinated notes and debentures 116,446155,492119,80074,17795,883Securities loaned 341,915368,885387,176301,127315,985Customer, broker-dealer and clearing payables $ 1,976,208$ 2,078,224$ 2,196,293$ 2,290,596$ 2,405,728Total stockholders’ equity 58,503,97656,898,37757,079,42956,894,56557,092,216Common shares outstanding at end of period 69,826,26369,828,70970,033,52370,221,63270,562,333Common shares issued at end of period Per Common Share Data: $ 33.78$ 36.53$ 38.48$ 40.26$ 42.14Book value per common share $ 30.72$ 33.45$ 35.46$ 37.26$ 39.22Tangible book value per common share (Non-GAAP)1 Capital Ratios: 9.49 %9.61 %9.70 %10.02 %10.21 %Equity to assets at end of period Axos Financial, Inc.: 9.27 %9.39 %9.33 %9.43 %9.78 %Tier 1 leverage (to adjusted average assets) 11.11 %10.97 %11.47 %12.01 %12.44 %Common equity tier 1 capital (to risk-weighted assets) 11.11 %10.97 %11.47 %12.01 %12.44 %Tier 1 capital (to risk-weighted assets) 14.06 %13.79 %14.26 %14.84 %15.29 %Total capital (to risk-weighted assets) Axos Bank: 9.99 %10.22 %9.86 %9.74 %9.82 %Tier 1 leverage (to adjusted average assets) 11.69 %12.26 %12.47 %12.74 %12.87 %Common equity tier 1 capital (to risk-weighted assets) 11.69 %12.26 %12.47 %12.74 %12.87 %Tier 1 capital (to risk-weighted assets) 12.65 %13.25 %13.49 %13.81 %14.06 %Total capital (to risk-weighted assets) Axos Clearing LLC: $ 101,391$ 103,454$ 102,963$ 101,462$ 85,292Net capital $ 96,211$ 98,397$ 97,646$ 96,654$ 80,081Excess capital 39.14 %40.92 %38.73 %42.21 %32.73 %Net capital as a percentage of aggregate debit items $ 88,440$ 90,812$ 89,671$ 89,442$ 72,264Net capital in excess of 5% aggregate debit items AXOS FINANCIAL, INC. SELECTED CONSOLIDATED FINANCIAL INFORMATION (Unaudited – dollars in thousands)

11 At or For The Three Months Ended September 30, 2023 December 31, 2023 March 31, 2024 June 30, 2024 September 30, 2024 Selected Income Statement Data: $ 363,952$ 394,663$ 443,564$ 453,428$ 484,262Interest and dividend income 152,797166,057181,958193,366192,214Interest expense 211,155228,606261,606260,062292,048Net interest income 7,00013,5006,0006,00014,000Provision for credit losses 204,155215,106255,606254,062278,048Net interest income, after provision for credit losses 34,507124,12933,16330,86128,609Non-interest income 120,506121,839133,228140,535147,465Non-interest expense 118,156217,396155,541144,388159,192Income before income taxes 35,51165,62544,82139,51646,852Income taxes $ 82,645$ 151,771$ 110,720$ 104,872$ 112,340Net income Weighted average number of common shares outstanding: 58,949,03857,216,62156,932,05056,938,40556,934,671Basic 59,808,32257,932,83458,037,69858,164,62358,168,468Diluted Per Common Share Data: Net income: $ 1.40$ 2.65$ 1.94$ 1.84$ 1.97Basic $ 1.38$ 2.62$ 1.91$ 1.80$ 1.93Diluted $ 1.41$ 1.60$ 1.94$ 1.83$ 1.96Adjusted earnings per common share (Non-GAAP)1 Performance Ratios and Other Data: $ 498,313$ 1,309,313$ 469,101$ 497,930$ 49,224Growth in loans held for investment, net 52,85844,32547,82152,57469,570Loan originations for sale 1.64 %2.90 %1.98 %1.81 %1.92 %Return on average assets 16.91 %30.39 %20.71 %18.81 %19.12 %Return on average common stockholders’ equity 3.37 %3.58 %3.88 %3.63 %4.13 %Interest rate spread2 4.36 %4.55 %4.87 %4.65 %5.17 %Net interest margin3 4.46 %4.62 %4.92 %4.68 %5.21 %Net interest margin3 – Banking Business Segment 49.05 %34.54 %45.20 %48.31 %45.99 %Efficiency ratio4 45.44 %30.96 %38.82 %41.39 %39.83 %Efficiency ratio4 – Banking Business Segment Asset Quality Ratios: 0.04 %0.04 %0.07 %0.05 %0.17 %Net annualized charge-offs to average loans 0.62 %0.65 %0.63 %0.57 %0.89 %Nonaccrual loans to total loans 0.56 %0.60 %0.55 %0.51 %0.75 %Non-performing assets to total assets 1.00 %1.33 %1.36 %1.34 %1.35 %Allowance for credit losses - loans to total loans held for investment 159.80 %205.50 %210.95 %229.84 %149.32 %Allowance for credit losses - loans to non-performing loans 1 See “Use of Non-GAAP Financial Measures” herein. 2 Interest rate spread represents the difference between the annualized weighted average yield on interest-earning assets and the annualized weighted average rate paid on interest-bearing liabilities. 3 Net interest margin represents annualized net interest income as a percentage of average interest-earning assets. 4 Efficiency ratio represents non-interest expense as a percentage of the aggregate of net interest income and non-interest income. AXOS FINANCIAL, INC. SELECTED CONSOLIDATED FINANCIAL INFORMATION (Unaudited – dollars in thousands)

September 30, 2023 December 31, 2023 March 31, 2024 June 30, 2024 September 30, 2024(Dollars in thousands, except per share amounts) $ 82,645$ 151,771$ 110,720$ 104,872$ 112,340Net income —(92,397)———FDIC Loan Purchase - Gain on purchase —4,648———FDIC Loan Purchase - Provision for credit losses 2,7902,7802,7192,5542,554Acquisition-related costs (839)25,650(784)(699)(752)Income taxes $ 84,596$ 92,452$ 112,655$ 106,727$ 114,142Adjusted earnings (non-GAAP) 59,808,32257,932,83458,037,69858,164,62358,168,468Average dilutive common shares outstanding $ 1.38$ 2.62$ 1.91$ 1.80$ 1.93Diluted EPS —(1.59)———FDIC Loan Purchase - Gain on Purchase —0.08———FDIC Loan Purchase - Provision for credit losses 0.050.050.050.040.04Acquisition-related costs (0.02)0.44(0.02)(0.01)(0.01)Income taxes $ 1.41$ 1.60$ 1.94$ 1.83$ 1.96Adjusted EPS (Non-GAAP) We define “tangible book value”, a non-GAAP financial measure, as book value adjusted for goodwill and other intangible assets. Tangible book value is calculated using common stockholders’ equity minus servicing rights, goodwill and other intangible assets. Tangible book value per common share, a non-GAAP financial measure, is calculated by dividing tangible book value by the common shares outstanding at the end of the period. We believe tangible book value per common share is useful in evaluating the Company’s capital strength, financial condition, and ability to manage potential losses. Below is a reconciliation of total stockholders’ equity, the nearest comparable GAAP measure, to tangible book value per common share (non-GAAP) as of the dates indicated: September 30, 2023 December 31, 2023 March 31, 2024 June 30, 2024 September 30, 2024(Dollars in thousands, except per share amounts) $ 1,976,208$ 2,078,224$ 2,196,293$ 2,290,596$ 2,405,728Common stockholders’ equity 29,33828,04328,13028,92427,335Less: servicing rights, carried at fair value 149,572146,793144,324141,769139,215Less: goodwill and intangible assets $ 1,797,298$ 1,903,388$ 2,023,839$ 2,119,903$ 2,239,178Tangible common stockholders’ equity (Non-GAAP) 58,503,97656,898,37757,079,42956,894,56557,092,216Common shares outstanding at end of period $ 33.78$ 36.53$ 38.48$ 40.26$ 42.14Book value per common share $ 0.50$ 0.49$ 0.49$ 0.51$ 0.48Less: servicing rights, carried at fair value per common share $ 2.56$ 2.59$ 2.53$ 2.49$ 2.44Less: goodwill and other intangible assets per common share $ 30.72$ 33.45$ 35.46$ 37.26$ 39.22Tangible book value per common share (Non-GAAP) Use of Non-GAAP Financial Measures In addition to the results presented in accordance with GAAP, this earnings supplement includes non-GAAP financial measures such as adjusted earnings, adjusted earnings per diluted common share, and tangible book value per common share. Non-GAAP financial measures have inherent limitations, may not be comparable to similarly titled measures used by other companies and are not audited. Readers should be aware of these limitations and should be cautious as to their reliance on such measures. Although we believe the non-GAAP financial measures disclosed in this report enhance investors’ understanding of our business and performance, these non-GAAP measures should not be considered in isolation, or as a substitute for GAAP basis financial measures. We define “adjusted earnings”, a non-GAAP financial measure, as net income without the after-tax impact of non-recurring acquisition-related costs and other costs (unusual or non-recurring charges). Adjusted earnings per diluted common share (“adjusted EPS”), a non-GAAP financial measure, is calculated by dividing non-GAAP adjusted earnings by the average number of diluted common shares outstanding during the period. We believe the non-GAAP measures of adjusted earnings and adjusted EPS provide useful information about the Company’s operating performance. We believe excluding the non-recurring acquisition related costs and other costs (unusual or non-recurring) provides investors with an alternative understanding of Axos’ core business. Below is a reconciliation of net income, the nearest comparable GAAP measure, to adjusted earnings and adjusted EPS (Non-GAAP) for the periods shown:

13 Greg Garrabrants, President and CEO Derrick Walsh, EVP and CFO [email protected] www.axosfinancial.com Johnny Lai, SVP Corporate Development and Investor Relations Phone: 858.649.2218 Mobile: 858.245.1442 [email protected] Contact Information