Axos Financial, Inc. Investor Presentation November 2021

Axos Financial, Inc. Investor Presentation

November 2021

NYSE: AX

Safe Harbor

This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). The use of future tense or words "future plans," "believe," "expect," "anticipate," "estimate," "project," or the negation thereof or similar expressions constitute forward-looking statements within the meaning of the Reform Act. These statements may include, but are not limited to, projections of revenues, income or loss, estimates of capital expenditures, plans for future operations, products or services, including new initiatives and expansion, the effects of the COVID-19 pandemic, and financing needs or plans, as well as assumptions relating to these

matters. Such statements involve risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company and its subsidiaries to be materially different from any future results, performance, or achievements expressed or

implied by such forward-looking statements. For a discussion of these factors, we refer you to the Company's reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended June 30, 2021, Form 10-Q for the quarter ended September 30, 2021 and its last earnings press release. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the Company or by any other person or entity that the objectives and plans of the Company will be achieved. For all forward-looking statements, the Company claims the protection of the safe-harbor for

forward-looking statements contained in the Reform Act.	1

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		Integrated		Digital		Digitally		Next	-Gen
	Customer			Enabled
Insight			Marketing			Technology
	Experience			Operations

2

Our Business Model is More Profitable Because Our Costs are Lower and Our Assets are Higher-Yielding

As % of average assets

Net interest income

Salaries and benefits

Premises, equipment and other non-interest expense

Total non-interest expense

Core business margin

	Banks
Axos1	Greater Than
$10bn2
(%)	(%)
4.34%	2.14%
0.93%	1.04%

1.12%1.10%

2.05% 2.14%

2.29% 0.00%

1. For the three months ended 6/30/2021 - the most recent data on FDIC website "Statistics on Depository Institutions Report". Axos Bank only, excludes Axos Financial, Inc. and non-bank subsidiaries to compare to FDIC data. Data retrieved 11/3/2021.

2. All Commercial Banks by asset size. FDIC reported for three months ended 6/30/2021. Total of 160 institutions >$10 billion. Data retrieved 11/3/2021.	3

Axos Financial's Three Business Segments Provide the Foundation For Sustained Long-Term Growth

Consumer

Banking

Securities 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 will generate incremental growth
• Universal Digital Banking Platform and Enterprise Technology stack provide operating leverage opportunity
• Technology synergies among business segments reduce overall cost of growth strategy

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