#127.75 3.1. 50 $7 18 XES XSD VOLU UVOL 76.36 AX May 4, 2023 34.62 34.97 2 MO NYSE 34.9600 axos FINANCIAL NYSE Axos Financial, Inc. Investor Presentation NYSE: AX FOOD FOR FTCORE LLEFEL axos Banking Evolved SM#2Safe Harbor This presentation contains forward-looking statements that involve risks and uncertainties, including without limitation statements relating to 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 axos 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 2022 Form 10-K, as supplemented by its Quarterly Report on Form 10-Q for the period ended December 31, 2022, 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-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and Axos undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release. Axos undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. All written and oral forward-looking statements 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#3Axos' Business Model is Differentiated From Other Banks Customer Acquisition • Digital Marketing • Affinity and Distribution Partners • Data mining/target feeding direct marketing • Cross-selling Data Driven Insight Sales • Automated fulfillment • Inbound call center sales ● Outbound call center sales ● Minimal outside sales Significant inside sales Integrated Customer Experience Self-service • Digital journey ● Servicing Direct banker (call center) Core Digital Capabilities Digital Marketing axos Digitally Enabled Operations Distribution ● Balance sheet • Whole loan sales options ● Securitization Next-Gen Technology 3#4Axos is a Top Performer Versus Bank Peer Group ROAA Return on equity Non-interest expense Efficiency ratio Axos Bank 1.75% 16.20% 2.18% 46.33% Peer Group 1.05% 8.37% 2.41% 66.32% Source: Uniform Bank Performance Report (UBPR) as of 12/31/22; data retrieved 3/29/23. Note: Peer group is all savings banks (101) with assets greater than $1 billion for quarter ended 12/31/22. Percentile 82% 89% 36% axos 11% The 89% on ROE means that the Bank outperformed 89% of all banks. The 11% efficiency ratio ranking means that only 11% of banks have lower expenses in comparison to their revenues. Peer group includes savings banks greater than $1 billion. 4#5Axos Financial's Three Divisions Provide the Foundation axos for Sustained Long-term Growth Securities Consumer Banking Commercial Banking Investment Thesis > Diverse mix of asset, deposit, 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 TM > Technology synergies among divisions reduce overall cost of growth strategy LO 5#6Consolidated Fiscal Third Quarter 2023 Highlights Compared with Fiscal Third Quarter 2022 Asset Growth $ Millions 25,000 20,000 15,000 10,000 5,000 0 $ Millions 100 50 0 16,081 Q3 2022 Net Income 61.8 23% Q3 2022 29% 19,782 Q3 2023 79.9 Q3 2023 $ Millions 20,000 15,000 10,000 5,000 0 0.80 0.60 $ Diluted EPS 1.40 1.20 1.00 0.40 0.20 0.00 Return on Equity = 17.42% Return on Assets = 1.71% 12,733 Deposit Growth Q3 2022 1.02 31% Diluted EPS Q3 2022 axos 29% 16,739 Q3 2023 1.32 Q3 2023 6#7Diluted EPS and Book Value Per Share Have Been Consistently Strong $ per share 4.50 4.00 3.50 3.00 2.50 2.00 1.50 1.00 0.50 0.00 2.10 2017 Diluted EPS (FY) 3.97 13.6% CAGR 3.56 2.98 2.37 2.48 will 2018 2019 2020 2021 2022 $ per share 30.00 25.00 20.00 15.00 10.00 5.00 0.00 Book Value Per Share (FY) 13.05 15.24 axos 16.1% CAGR 23.62 20.56 17.47 27.48 2017 2018 2019 2020 2021 2022 7#8Net Interest Margin has been Stable/Rising Through a axos Variety of Interest Rate Cycles* 3.84% 1.91% 2018 Stable Net Interest Margin 3.76% 3.83% 3.92% 2.40% 0.08% 0.08% 2019 2020 NIM 4.13% 0.26% 4.26% 4.49% * NIM excludes impact of HRB; relationship with HRB terminated in December 2021. 3.08% Effective Fed Funds rate 4.33% 2021 2022 Q1 2023 Q2 2023 Q3 2023 4.83% 4.42% 8