Washington Federal : Investor Presentation As of 12/31/2022

Investor Presentation

As of 12/31/2022

This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon the current beliefs and expectations of Washington Federal's management and are subject to significant risks and uncertainties. The forward-looking statements in

this presentation speak only as of the date of the presentation, and Washington Federal assumes no duty, and does not undertake, to update them. Actual results or

future events could differ, possibly materially, from those that we anticipated in these forward-looking statements.

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Contents

Overview	3
Vision	6
Asset Quality	14
Liability Trends	17
Interest Rate Risk	19
Profitability	20
Capital	25

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Overview of WaFd Bank

Overview		Geographic Overview

• Established in 1917; IPO in 1982
• Washington State Charter Commercial Bank - WA DFI, FDIC, FRB, CFPB Regulated
• Headquartered in Seattle, WA; is the second largest bank headquartered in the Pacific Northwest
• Exited BSA Consent Order Dec 2021
• 200 branches across 8 western states
• Full-service consumer & commercial bank
• Strong capital, high asset quality, consistent results
• Portfolio mortgage lender
• Profitable every year since 1965
• Interest rate risk management - well controlled
• 159 consecutive quarterly cash dividends

• 14,364% Total shareholder return since IPO	Company Highlights1
Total Assets	Total Loans	Total Deposits	Stockholder Equity	Efficiency Ratio
$21.7Bn	$17.0Bn	$16.0Bn	$2.3Bn	46.78%

1 As of or for the quarter-ended 12/31/2022

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WaFd Bank Executive Management Committee

Brent Beardall	Kelli Holz	Cathy Cooper
President and Chief Executive	SEVP Chief Financial Officer	EEVP Chief Consumer Banker
Officer

James Endrizzi	Kim Robison	Ryan Mauer
EVP Chief Commercial	EVP Chief Operating Officer	EVP Chief Credit Officer
Banker

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WaFd Bank Demographics

Our markets are among the most desirable in the US and create a foundation for loan growth without excessive risk

							Projected	Median	Projected
		Company	Deposit	Percent of	Total	Population	Population	HH	HH Income
	Number	Deposits	Market	National	Population	Change	Change	Income	Change
	of	in Market	Share	Franchise	2023	2010-2023	2023-2028	2022	2022-2027
State	Branches	($000)	(%)	(%)	(Actual)	(%)	(%)	($)	(%)
Washington	72	7,347,752	3.06	43.9	7,863,719	16.94	4.33	89,976	15.87
Oregon	36	2,779,517	2.68	19.2	4,295,710	12.13	3.45	75,279	15.18
Arizona	28	1,544,363	0.74	10.3	7,380,760	15.47	3.76	71,447	16.88
New Mexico	19	1,300,023	2.93	8.2	2,120,216	2.96	0.74	58,342	13.27
Idaho	22	1,015,195	2.47	6.9	1,941,205	23.83	5.79	68,632	14.75
Utah	9	949,557	0.70	4.8	3,408,723	23.33	5.04	87,338	16.23
Nevada	9	504,855	0.47	3.3	3,198,164	18.43	3.95	70,540	11.48
Texas	5	518,773	0.05	3.4	30,065,904	19.57	4.14	71,347	11.18
Totals:	200	15,960,035		100	60,274,401
Weighted Average						15.64	3.92	79,775	15.27
Aggregate: National					334,500,069	8.34	2.14	73,503	13.37
Deposit market share and precent of national franchise are from the FDIC's Summary of Deposit reports and is as of 09/30/2022. All other data is as of 12/31/2022.

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