marsupplement

Axos Q3 Fiscal 2025 Earnings Supplement NYSE: AXApril 30, 2025

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)Q2 FY25Q3 FY25 $ 56$ 3,641$ 3,697 (11)509498 (89)2,1482,059 (2)1,2831,281 705,3015,371 71914985 272,4922,519 2762,0412,317 2781,2771,555 25375400 24446 —11 $ 703$ 20,026$ 20,729 Lender Finance RE CRE Specialty Other Auto & Consumer

3 Commercial Real Estate Specialty1 Detail as of March 31, 2025 Non-Accrual Loans (mm)Weighted Avg. LTVBalance (mm)Loan Type $ —43 %$ 1,485Multifamily 15381,211SFR —58957Industrial —41836Hotel 530380Office 1537326Other —43176Retail $ 3542 %$ 5,371Total Note 1: Includes Commercial Real Estate Specialty loan portfolio only. LTV Distribution

4 DepositsLoans Interest Rate Sensitivity of Loans & Deposits As of March 31, 2025 TotalInterest Rate $ 6,156,1200% ~ 2% $ 10,857,1452% ~ 4% $ 3,123,4494% ~ 6% $ 20,136,714 Non-Time Deposits by Interest Rate (Dollars in Thousands) • ~$3.5 billion of deposits that adjust with 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 March 31, 2025, 61% will reprice within 3 years and 90% will reprice within 5 years.

5 Diversified Deposit Gathering Approximately 90% of deposits are FDIC-insured or collateralized Deposit balances as of March 31, 2025 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 $1.1B Consumer Direct $11.2B Specialty Deposits $1.9B Distribution Partners $0.4B Axos Securities1 $0.9B Small Business Banking $0.5B Commercial & Treasury Management $4.1B Diversified Deposit Gathering Business Lines

6 Change in Allowance for Credit Losses (ACL) & Unfunded Loan Commitments Reserve (UCL) ($ in millions) ACL + UCL ACL + UCL 6.2

7 Allowance for Credit Losses (ACL) by Loan Category as of March 31, 2025 $ Millions ACL %1ACLLoan Balance 0.4 %$ 15$ 4,195 1.4 %483,341 1.4 %906,356 1.8 %1146,390 2.9 %13447 1.4 %$ 280$ 20,729 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

8 Credit Quality ($ millions) %Non-Accrual LoansLoans O/SMarch 31, 2025 1.05 %$ 44$ 4,195Single Family-Mortgage & Warehouse 1.02343,341Multifamily and Commercial Mortgage 0.53346,356Commercial Real Estate 1.11716,390Commercial & Industrial - Non-RE 0.452447Auto & Consumer 0.89 %$ 185$ 20,729Total %Non-Accrual LoansLoans O/SDecember 31, 2024 1.69 %$ 70$ 4,150Single Family-Mortgage & Warehouse 1.43493,431Multifamily and Commercial Mortgage 0.97606,215Commercial Real Estate 1.22715,810Commercial & Industrial - Non-RE 0.482420Auto & Consumer 1.26 %$ 252$ 20,026Total %Non-Accrual LoansLoans O/SMarch 31, 2024 1.24 %$ 51$ 4,123Single Family-Mortgage & Warehouse 0.97394,001Multifamily and Commercial Mortgage 0.44265,913Commercial Real Estate 0.0844,828Commercial & Industrial - Non-RE 0.442452Auto & Consumer 0.63 %$ 122$ 19,317Total

9 March 31, 2024 June 30, 2024 September 30, 2024 December 31, 2024 March 31, 2025 Selected Balance Sheet Data: $ 22,642,133$ 22,855,334$ 23,569,084$ 23,709,422$ 23,981,154Total assets 18,733,45519,231,38519,280,60919,486,72720,193,630Loans—net of allowance for credit losses 16,23916,48214,56625,43615,644Loans held for sale, carried at fair value 257,522260,542263,854270,605279,950Allowance for credit losses 592353594241346Securities—trading 207,582141,611137,99697,84879,958Securities—available-for-sale 105,85367,21284,326114,67291,915Securities borrowed 292,630240,028262,774298,887300,907Customer, broker-dealer and clearing receivables 19,103,53219,359,21719,973,32919,934,90420,136,714Total deposits 90,00090,00090,00060,00060,000Advances from the FHLB 330,389325,679313,519358,692377,427Borrowings, subordinated notes and debentures 119,80074,17795,883135,258111,094Securities loaned 387,176301,127315,985309,593314,399Customer, broker-dealer and clearing payables $ 2,196,293$ 2,290,596$ 2,405,728$ 2,521,962$ 2,603,900Total stockholders’ equity 57,079,42956,894,56557,092,21657,097,63256,865,524Common shares outstanding at end of period 70,033,52370,221,63270,562,33370,571,33270,813,637Common shares issued at end of period Per Common Share Data: $ 38.48$ 40.26$ 42.14$ 44.17$ 45.79Book value per common share $ 35.46$ 37.26$ 39.22$ 41.27$ 42.91Tangible book value per common share (Non-GAAP)1 Capital Ratios: 9.70 %10.02 %10.21 %10.64 %10.86 %Equity to assets at end of period Axos Financial, Inc.: 9.33 %9.43 %9.78 %10.02 %10.45 %Tier 1 leverage (to adjusted average assets) 11.47 %12.01 %12.44 %12.42 %12.39 %Common equity tier 1 capital (to risk-weighted assets) 11.47 %12.01 %12.44 %12.42 %12.39 %Tier 1 capital (to risk-weighted assets) 14.26 %14.84 %15.29 %15.23 %15.21 %Total capital (to risk-weighted assets) Axos Bank: 9.86 %9.74 %9.82 %9.85 %10.14 %Tier 1 leverage (to adjusted average assets) 12.47 %12.74 %12.87 %12.67 %12.31 %Common equity tier 1 capital (to risk-weighted assets) 12.47 %12.74 %12.87 %12.67 %12.31 %Tier 1 capital (to risk-weighted assets) 13.49 %13.81 %14.06 %13.86 %13.49 %Total capital (to risk-weighted assets) Axos Clearing LLC: $ 102,963$ 101,462$ 85,292$ 83,932$ 79,264Net capital $ 97,646$ 96,654$ 80,081$ 78,282$ 73,172Excess capital 38.73 %42.21 %32.73 %29.71 %26.02 %Net capital as a percentage of aggregate debit items $ 89,671$ 89,442$ 72,264$ 69,805$ 64,035Net capital in excess of 5% aggregate debit items AXOS FINANCIAL, INC. SELECTED FINANCIAL INFORMATION (Unaudited – dollars in thousands)

10 At or For The Three Months Ended March 31, 2024 June 30, 2024 September 30, 2024 December 31, 2024 March 31, 2025 Selected Income Statement Data: $ 443,564$ 453,428$ 484,262$ 456,068$ 432,722Interest and dividend income 181,958193,366192,214175,969157,258Interest expense 261,606260,062292,048280,099275,464Net interest income 6,0006,00014,00012,24814,500Provision for credit losses 255,606254,062278,048267,851260,964Net interest income, after provision for credit losses 33,16330,86128,60927,79933,373Non-interest income 133,228140,535147,465145,320146,261Non-interest expense 155,541144,388159,192150,330148,076Income before income taxes 44,82139,51646,85245,64342,870Income taxes $ 110,720$ 104,872$ 112,340$ 104,687$ 105,206Net income Weighted average number of common shares outstanding: 56,932,05056,938,40556,934,67157,094,15357,029,078Basic 58,037,69858,164,62358,168,46858,226,00658,174,696Diluted Per Common Share Data: Net income: $ 1.94$ 1.84$ 1.97$ 1.83$ 1.84Basic $ 1.91$ 1.80$ 1.93$ 1.80$ 1.81Diluted $ 1.94$ 1.83$ 1.96$ 1.82$ 1.81Adjusted earnings per common share (Non-GAAP)1 Performance Ratios and Other Data: $ 469,101$ 497,930$ 49,224$ 206,118$ 706,903Growth in loans held for investment, net 47,82152,57469,57066,82620,962Loan originations for sale 1.98 %1.81 %1.92 %1.74 %1.77 %Return on average assets 20.71 %18.81 %19.12 %16.97 %16.44 %Return on average common stockholders’ equity 3.88 %3.63 %4.13 %3.91 %3.91 %Interest rate spread2 4.87 %4.65 %5.17 %4.83 %4.78 %Net interest margin3 4.92 %4.68 %5.21 %4.87 %4.83 %Net interest margin3 – Banking Business Segment 45.20 %48.31 %45.99 %47.20 %47.36 %Efficiency ratio4 38.82 %41.39 %39.83 %40.95 %41.53 %Efficiency ratio4 – Banking Business Segment Asset Quality Ratios: 0.07 %0.05 %0.17 %0.10 %0.09 %Net annualized charge-offs to average loans 0.63 %0.57 %0.89 %1.26 %0.89 %Nonaccrual loans to total loans 0.55 %0.51 %0.75 %1.06 %0.79 %Non-performing assets to total assets 1.36 %1.34 %1.35 %1.37 %1.37 %Allowance for credit losses - loans to total loans held for investment 210.95 %229.84 %149.32 %107.58 %151.28 %Allowance for credit losses - loans to non-performing loans5 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. 5 The decrease in the Allowance for credit losses - loans to nonaccrual loans is primarily attributable to the change in nonaccrual loans. AXOS FINANCIAL, INC. SELECTED FINANCIAL INFORMATION (Unaudited – dollars in thousands)

11 March 31, 2024 June 30, 2024 September 30, 2024 December 31, 2024 March 31, 2025(Dollars in thousands, except per share amounts) $ 110,720$ 104,872$ 112,340$ 104,687$ 105,206Net income 2,7192,5542,5541,6451,604Acquisition-related costs ————(1,879)Other costs1 (784)(699)(752)(503)80Income taxes $ 112,655$ 106,727$ 114,142$ 105,829$ 105,011Adjusted earnings (non-GAAP) 58,037,69858,164,62358,168,46858,226,00658,174,696Average dilutive common shares outstanding $ 1.91$ 1.80$ 1.93$ 1.80$ 1.81Diluted EPS 0.050.040.040.030.03Acquisition-related costs ————(0.03)Other costs1 (0.02)(0.01)(0.01)(0.01)—Income taxes $ 1.94$ 1.83$ 1.96$ 1.82$ 1.81Adjusted EPS (Non-GAAP) 1 Other costs primarily reflects the payment of a legal judgment at an amount less than previously accrued. 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: March 31, 2024 June 30, 2024 September 30, 2024 December 31, 2024 March 31, 2025(Dollars in thousands, except per share amounts) $ 2,196,293$ 2,290,596$ 2,405,728$ 2,521,962$ 2,603,900Common stockholders’ equity 28,13028,92427,33528,04527,585Less: servicing rights, carried at fair value 144,324141,769139,215137,570135,966Less: goodwill and intangible assets $ 2,023,839$ 2,119,903$ 2,239,178$ 2,356,347$ 2,440,349Tangible common stockholders’ equity (Non-GAAP) 57,079,42956,894,56557,092,21657,097,63256,865,524Common shares outstanding at end of period $ 38.48$ 40.26$ 42.14$ 44.17$ 45.79Book value per common share $ 0.49$ 0.51$ 0.48$ 0.49$ 0.49Less: servicing rights, carried at fair value per common share $ 2.53$ 2.49$ 2.44$ 2.41$ 2.39Less: goodwill and other intangible assets per common share $ 35.46$ 37.26$ 39.22$ 41.27$ 42.91Tangible 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:

12 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